Seth Pollack, senior associate in the firm's Elmwood Park office, had the exclusive listing to market the property on behalf of the seller, a New Jersey Limited Liability Co. The buyer, a local investor, was secured by associate, Urszula Zoltek, also from the Elmwood Park office. Built around 1960, this two-story retail building contains a lot size of 1.29 acres and is situated on the northbound side of Route 1 & 9.

In a separate transaction, the firm also sold a nine-unit apartment building in Jersey City for $595,000. Investment specialists Maz Radwan, Steven Matovski and Christopher Rizzolo, in Marcus & Millichap's New Jersey office, marketed the property on behalf of the seller, a private investor. They also secured the purchaser, a New Jersey investor/developer.

"This was a concerted effort to help our client, a 25-year apartment operator, exit the business," says Rizzolo. "Despite the fact that this asset was delivered completely vacant, we added value by arranging a purchase money mortgage along with generating multiple offers with very competitive terms," adds Matovski.