IPA Brokers Sale of 85,513 SF Shopping Center in Morristown, New Jersey

by Taylor Williams

MORRISTOWN, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Morris Marketplace, an 85,513-square-foot shopping center located roughly 25 miles west of New York City. The newly developed center was fully leased at the time of sale to more than 35 restaurant and service-oriented tenants, including Wells Fargo, Jersey Mike’s, Orangetheory Fitness and Panda Express. Brad Nathanson and JP Colussi of IPA represented the seller and developer, DeVimy Equities, in the transaction. The duo also procured the buyer, Ohio-based Last Mile Investments.

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