Commercial real estate firm Marcus & Millichap on Friday announced the sale of Somerset Plaza Shopping Center, a 67,530-square-foot retail shopping center located in Franklin Park, for $12,775,000.
Brian Hosey, regional manager of the firm's New Jersey office, made the announcement. Alan Cafiero, Brent Hyldahl and Ben Sgambati of Marcus & Millichap's New Jersey office procured the buyer, a private investor.
"The seller of the property was not actively marketing the property for sale, but would entertain an offer." Cafiero said in a release. "We had an excellent local buyer who we have closed with before that we brought to the table and made the deal."