LIVINGSTON, NJ — A retail center near the Route 10 corridor in Livingston has sold for $7.05 million, reports say.
A private investor purchased the two-story property 107 East Mount Pleasant Avenue, which is currently home to 17 retail and office tenants, Real Estate NJ reported, citing a news release from Marcus & Millichap.
Businesses renting space at the 26,000 square foot property include a Kumon center, a deli, a café and a pharmacy.
The property was built in 1970. It includes 19 units, 75 parking spaces and a newly constructed car wash, ROI-NJ.com reported.
"High-quality mixed-use investment opportunities in affluent Essex County communities rarely come to market," said Alan Cafiero, senior managing director investments in Marcus & Millichap's New Jersey office.
"The combination of stable occupancy, a newly constructed car wash and an irreplaceable location in Livingston generated exceptional investor demand, resulting in multiple competitive offers," Cafiero said.
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