MARCUS & MILLICHAP BROKERS $6.27 MILLION RETAIL SALE
CHERRY HILL, N.J. — Marcus & Millichap has brokered the sale of a two-building retail property, located at 104-106 Route 70 East in Cherry Hill, for $6.27 million. The property comprises two freestanding buildings situated on 5.24 acres that are occupied by CitiBank and Famous Dave’s BBQ. Chris Munley, Mark Taylor and Dean Zang of Marcus & Millichap’s Philadelphia office represented the seller, Pennsylvania-based Cherry Hill Realty Associates. The trio also procured the buyer, a family partnership completing a 1031 exchange. The property traded at a 6.88 percent capitalization rate.