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ROCKAWAY, N.J. — The New Jersey office of Marcus & Millichap has brokered the sale of Rockaway Plaza, a 104,549-square-foot retail property located at 295 Route 46 in Rockaway, for $16.12 million. Situated on 6.78 acres, the property is anchored by Drug Fair; additional tenants include Ace Hardware, Kiddie Academy and Party Fair. The property has recently undergone a renovation that included a new façade and storefronts, as well as a resurfaced parking lot. Seth Pollack and Michael Kestin of Marcus & Millichap represented the seller, a regional developer. Kevin McCrann, also of Marcus & Millichap, represented the buyer, a regional investment group. The property traded at a price of $154 per square foot.