Marcus & Millichap announced on Tuesday the $4.8 million sale of a 14,840-square-foot AutoZone “hub” store located at the high-traffic intersection of North Black Horse Pike and Berlin-Cross Keys Road in Williamstown.
The transaction marks a dramatic turnaround for the 2.11-acre property at 2099 N. Black Horse Pike. The building, originally constructed in 2005, famously sat vacant for over 15 years following the departure of Rite Aid in the late 2000s, often serving as little more than a seasonal home for Spirit Halloween pop-up shops.
The sale is the culmination of a rapid redevelopment play. A private investor acquired the vacant shell in 2024, secured a long-term lease with AutoZone, and completed a comprehensive renovation in 2025 to meet the retailer’s “hub” specifications.
“The seller did an excellent job positioning the property by successfully transforming a formerly vacant Rite Aid into an AutoZone hub store,” Mark Krantz, senior director of investments at Marcus & Millichap said. “This offered investors a rare opportunity to acquire a newly leased, long-term location with institutional-grade credit and exceptional real estate fundamentals.”
Unlike standard AutoZone retail locations, “hub” stores like the Williamstown site are significantly larger and serve as distribution nodes for other area stores. The 14,840-square-foot footprint allows for a massive on-site parts inventory, which in turn fuels the company’s growing commercial delivery business.
The deal involved a complex coordination of Marcus & Millichap’s regional investment teams:
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The Listing Team: Mark Krantz and Derrick Dougherty represented the seller, a private investor, in association with Jim McGuckin, the firm’s New Jersey broker of record.
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The Procurement Team: Seth Goldberg, Alan Cafiero and Brent Hyldahl secured the buyer, also a private investor.
“The hard-corner location at one of the busiest intersections in South Jersey provides long-term stability,” Goldberg, associate director of investments said. “The buyer was most interested in the property for its superior fundamentals paired with a newly signed lease to AutoZone, a BBB-rated tenant.”
The sale highlights a broader trend in New Jersey real estate where “internet-resistant” tenants like automotive parts and services continue to command premium prices. With New Jersey’s high density and car-dependent suburbs, hub locations that combine retail sales with rapid distribution are increasingly sought after by private capital and institutional investors alike.
