Marcus & Millichap Brokers Sale of 93,029 SF Shopping Center in Vernon Township, New Jersey

by Taylor Williams

VERNON TOWNSHIP, N.J. — Marcus & Millichap has brokered the sale of Vernon Valley Plaza, a 93,029-square-foot shopping center in Northern New Jersey’s Sussex County. An ACME grocery store anchors the property, which was built between 2001 and 2004. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap represented the seller, a developer, and procured the buyer, a private investor, in the transaction. Both parties were New Jersey-based entities that requested anonymity. Joseph Belgiovine of Marcus & Millichap Capital Corp. arranged a $13.3 million acquisition loan for the deal that carried a five-year term, fixed interest rate and a 30-year amortization schedule.

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