Private Investor Acquires 22,000 Square Foot Retail Property In Rutherford For $7.35 Million

A private investor acquired a 22,000-square-foot retail property at 308-314 Union Avenue in Rutherford for $7.35 million. The location features a strong tenant mix, including Dunkin’ and Kiddie Academy, and is conveniently situated near major highways and NJ Transit. The property underwent renovation in 2019 and received nearly 10 offers before being sold to a local cash buyer.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,350,000
• Square Footage: 22,000
• Price Per Square Foot: $334
• Address: 308-314 Union Avenue
• Market: Rutherford

Alan Cafiero, David Cafiero, and John Moroz represented the transaction for Marcus & Millichap, facilitating the deal that attracted significant interest due to its tenant profile and location advantages.