Marcus & Millichap Sells Retail Asset In Mount Olive Township For $1.43M

An investor has acquired a retail property located at 342 Route 46 in Mount Olive Township, NJ. The property spans 3,250 square feet and was sold for $1,430,000. Currently, it houses a Valley National Bank branch.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $1,430,000.00
• Square Footage: 3,250
• Address: 342 Us-46, Mount Olive Township, NJ
• Buyer's Representative: Michael Kook - Marcus & Millichap
• Buyer: Unknown

The transaction was facilitated by Michael Kook from Marcus & Millichap's Manhattan office, who represented the buyer. The appeal of the property stemmed from its strong corporate credit, long lease term, and location within the New Jersey market.