Colonia Strip Center in Woodbridge — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has paid $1.35 million for a 5,850-square-foot strip center in Woodbridge.
In a news release, brokerage firm Marcus & Millichap said it represented both parties in the sale of Colonia Strip Center, a retail property at Inman Avenue and Cavour Street in the township’s Colonia section. The transaction followed an offering that drew 14 prospective offers, according to Brian C. Hosey, regional manager of the firm’s New Jersey office.
Marcus & Millichap investment specialists Michael Lombardi and Alexander Pildes represented the seller, also a private investor.
“We are continuing to see high levels of interest for well-located strip centers in ($1 million to $2 million) price point,” Lombardi said.
