Marcus & Millichap Brokers $7.44M Retail Property Sale in New Jersey

CARLSTADT, N.J. — Marcus & Millichap has brokered the sale of a 14,490-square-foot Walgreens drugstore location in Carlstadt. Located at 637 Hoboken Road, the freestanding property sold for $7.44 million. The property is at the signalized intersection of Hoboken Road and Garden Street and is surrounded by national retailers, including Stop & Shop, Bank of America, Burger King, Verizon Wireless, CVS, AutoZone and Dunkin’ Donuts. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap’s New Jersey office listed the property on behalf of the seller, a fund manager, and represented the buyer, an out-of-state fund, in the deal.