Private Investor Acquires Park Plaza Retail Center In Matawan For $14.67 Million

The Park Plaza retail center, spanning 61,750 square feet, is located at 343-351 Route 34 in Matawan, NJ. The asset was sold for $14.67 million and occupies a 5.86-acre lot. Built in 1986, the center features 20 retail, dining, and service tenants, including a drive-thru Dunkin’.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $14,670,000
• Square Footage: 61,750 SF
• Price Per Square Foot: $238
• Market: Matawan, NJ
• Acres: 5.86
• Brokers: Seth Goldberg, Brent Hyldahl & Alan Cafiero - Marcus & Millichap

A private investor from New Jersey completed the sale of the retail center to another private investor. The transaction was facilitated by the brokerage firm Marcus & Millichap, with the involved brokers playing essential roles in the marketing and sale process.