By Linda Moss CoStar News
A shopping strip in Marlboro, New Jersey, has traded for $4.9 million.
The 35,000-square-foot Willow Pointe Plaza retail center at 184 Highway 9 on was sold on behalf of the unidentified seller.
Terms of the deal, including the seller, weren't disclosed.
"This asset's U.S. Highway 9 location offers convenience and accessibility from many local residences, as well as the 75,000 vehicles that drive by per day," Andrew Schwartz, Cushman & Wakefield managing diector, said in a statement. "The center has historically boasted strong occupancy and has a diversified rent role and solid in-place cash flow."
Willow Point, located on a 5.38-acre site, is 85% leased to 17 tenants, including Allstate Insurance, Kumon Learning Center, the Smile of Marlboro dentist group and several dining establishments.
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