Marcus & Millichap announced the sale of Yorktowne Plaza, a 23-unit shopping center located in Brick Township. The 41,219-square-foot retail asset was sold for $7,250,000.
The sale underscores the continued high investor interest in multi-tenant retail properties that offer opportunities for future growth, particularly in well-located suburban markets like Ocean County.
“Investor demand in multi-tenant retail remains strong, especially if there is value-add potential,” Brent Hyldahl, managing director investments in Marcus & Millichap’s New Jersey office said. “The buyer recognized the opportunity in acquiring a well-located Ocean County center with below-market rents and multiple paths for long-term growth.”
Hyldahl, along with team members Alan Cafiero and Seth Goldberg, represented the seller, Ocean County Equities LLC, in the transaction.
Yorktowne Plaza spans 5.84 acres at 2610–3000 Yorktowne Boulevard, strategically positioned at the signalized intersection of Hooper Avenue and Yorktowne Boulevard.
The center features a diverse mix of tenants, including Domino’s, Mariner Finance, Crown Fried Chicken, Nova Games and Community Medical Center. Its location offers excellent regional connectivity, situated minutes from the Garden State Parkway, U.S. Route 9, and NJ-70.
