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Marcus & Millichap arrange $1.2M sale of Morris Plains property

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Real estate firm Marcus & Millichap announced Tuesday the sale of Friendly’s, a 2,428-square-foot net-leased property in Morris Plains.

According to Brian Hosey, sales manager of the firm’s New Jersey office, the property sold for $1,230,600 with a 6 percent cap rate.

Michael Lombardi, director of the Net Leased Property Group in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller.  Lombardi also represented the buyer, the announcement said.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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