IPA Brokers Sale of 85,513-Square-Foot Shopping Center in Northern New Jersey
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Morristown, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Morris Marketplace, a newly developed 85,513-square-foot shopping center located in Morristown, roughly 25 miles west of New York City. The center, which is shadow-anchored by Lidl Supermarket and Burlington, was fully leased at the time of sale with more than 35 restaurant and service-oriented tenants, including Wells Fargo and Panda Express. Brad Nathanson and JP Colussi of IPA represented the seller and developer, DeVimy Equities, and procured the Ohio-based buyer, Last Mile Investments, in the transaction.
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