Auction Closing: Caliber Collision Anchored Center
Bayville, NJ, May 13th, 2024 – 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 Brookside Plaza, a 48,546-square-foot property located at 661 Atlantic City Boulevard, Bayville, NJ, according to Tim Stephenson, regional manager of the firm’s Philadelphia office. The asset sold for $2,210,000.
Mark Krantz, investment specialist in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a local New Jersey investor. “Brookside Plaza is strategically positioned along Route 9 and exemplifies strong real estate fundamentals. With 20,000 vehicles per day and a 57% occupancy rate, this 48,546 sq ft shopping center is a prime value-add investment opportunity,” said Mark Krantz.
“Anchored by Caliber Collision, the nation's leading auto body repair provider. The property not only boasts a strong operating history but also benefits from a recession-resistant tenant base. The location's proximity to major traffic generators ensures steady foot traffic and robust growth potential,” said Mark Krantz.
"This sale serves as a testament to the power of effective collaboration, where both the buyer and seller worked hand in hand, fostering open communication and a shared vision of success throughout the entire process. I extend my sincere thanks to Adam Slaver and his team for their dedication and hard work in making this auction closing a success,” said Mark Krantz.
Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research, and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting, and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
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