Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Main tree Shopping Center, a 138,445-square foot retail property located in Vineland, NJ, according to John Krueger, regional manager of the firm’s Winchester office. The asset sold for $13,100,000.

Kodi Traver, Joseph French Jr., and Thomas Dalzell, investment specialists in Marcus & Millichap’s Westchester office, along with Mark Taylor, Senior Managing Director in Marcus & Millichap’s King of Prussia office, had the exclusive listing to market the property on behalf of the seller, a private investor.Brian Hosey, New Jersey Broker of Record, assisted in closing this transaction.

Maintree Shopping Center is located at 301 S Main Rd in Vineland, NJ. The center is anchored by ACME in a 60,000 SF store, and Dollar Tree. The center also has four freestanding PADS. “The main issue we had to overcome was the short time remaining on the ACME lease, less than two years. That, plus marketing and selling in the midst of the COVID pandemic made the price we obtained outstanding given those hurdles.” Said Taylor.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.