Marcus & Millichap Brokers $5.25 Million Sale Of Retail Center In Paterson New Jersey

A fully leased six-tenant retail center located at 385 McLean Boulevard in Paterson, N.J., has been sold for $5,250,000. The property spans 12,892 square feet, translating to a price per square foot of $407 and covers an area of 0.96 acres. The retail center is anchored by Bank of America and Wingstop.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,250,000
• Square Footage: 12,892
• Price Per Square Foot: $407
• Address: 385 McLean Boulevard
• Market: Paterson
• Acres: 0.96

Alan Cafiero, David Cafiero, and John Moroz from Marcus & Millichap represented the seller and played a key role in securing a local 1031 exchange buyer for the property as part of this transaction.