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Marcus & Millichap arranges sale of $20.6M shopping center

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Marcus & Millichap Real Estate Investment Services announced Tuesday it arranged the sale of Marketplace at Edgewater, an 88,641-square-foot shopping center and an adjoining pad site, in a $20.6 million deal.

Mark Taylor, Dean Zang and Christopher Munley, all in Marcus & Millichap’s Philadelphia office, represented the seller, a private investor. Greg Babaian, a vice president investments in the firm’s New Jersey office, represented the buyer, Capstone Realty Group.

According to the announcement, Marketplace at Edgewater was built in 1990 on approximately 6.4 acres, near the Hudson River. It is anchored by Trader Joe’s, which leases the pad site; other tenants include Animal General, Binghampton Bagel, Chase Bank, Fast Frames, H&R Block, PetValu, River Pet Resorts and Scerbo Physical Fitness.

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