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CARLSTADT, N.J. — Marcus & Millichap has arranged the sale of Carlstadt Gardens, a 16,844-square-foot retail property located in Carlstadt, for $5.4 million, or $320 per square foot. Michael Lombardi and Preet Sabharwal of Marcus & Millichap marketed the property on behalf of the seller. Lombardi and Sabharwal generated 22 offers on the center during the listing process, resulting in a sale $100,000 over asking price, according to Marcus & Millichap. The buyer was an overseas investor. “Well located, multi-tenant retail investments in New Jersey are quite sought after, especially newer developed buildings with national tenants,” says Lombardi.