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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