Marcus & Millichap on Wednesday said it successfully traded the Apple Montessori School in the Township of Washington for $7,350,000. The property is a single-tenant early education facility located in a highly sought-after area of Bergen County.
The sale highlights the continued high demand for net lease properties in Northern New Jersey, particularly within Bergen County.
“Net lease in northern New Jersey is always in high demand, specifically Bergen County,” Alan Cafiero, senior managing director in Marcus & Millichap’s New Jersey office said. “This property was newly built with a 15-year triple net lease, which, along with the location, attracted the buyer to the asset.”
The deal was arranged by the Marcus & Millichap team of Alan Cafiero, David Cafiero and John Moroz, who represented the seller and procured the buyer.
The newly constructed, 10,000-square-foot Apple Montessori School at 95 Linwood Ave. sits on a 1.5-acre parcel. The modern facility offers premium amenities ideal for an early education center, including:
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An in-ground outdoor swimming pool.
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Approximately 5,000 square feet of dedicated playground space.
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A covered drop-off area and 33 parking spaces.
The property boasts a prime location along Linwood Avenue, adjacent to the Garden State Parkway and less than one mile from Route 17. The trade area is characterized by strong demographics, with a population exceeding 295,000 residents within a five-mile radius and an average household income of over $187,000 within one mile.
