Listen to this articleThe Vitamin Shoppe store in Union recently sold for $3.5 million.
Marcus & Millichap announced the disposal of the 4,859-square-foot property at 2702 Route 22 on June 10.
As evidenced by the firm’s recent activity, Alan Cafiero, senior managing director of investments, commented, “Net leased assets along major retail corridors in Northern New Jersey continue to be in high demand.”
“The Vitamin Shoppe is located along Route 22 in Centre Island, New Jersey’s busiest commercial highway,” Cafiero said. The location provides access to both eastbound and westbound lanes.
Alan Cafiero and investment professionals David Cafiero and Dean Matusiewicz of Marcus’ New Jersey office exclusively marketed The Vitamin Shoppe property in Union on behalf of the seller, Klein Group LLC. The team also secured the buyer, G. Mason Group LLC.
Secaucus-based The Vitamin Shoppe is a nutritional supplement retailer that recently announced its expansion into telehealth.
According to Marcus & Millichap, the double net lease property is within three miles of more than 177,000 residents. Additionally, the median household income in the area is more than $134,000.
Other stores along the Route 22 commercial strip include Target, Walmart, Dick’s Sporting Goods and Big Lots.
