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MMI - Marcus & Millichap sells Ocean County portfolio for $46M
Marcus & Millichap Inc.
Real estate brokerage firm Marcus & Millichap ( NYSE: MMI ) has sold its Ocean County Middle Market Portfolio, a 10-property, 310,023-sq.-ft. retail and office portfolio, for $46M.
The property is in the Ocean County, New Jersey, townships of Toms River and Brick.
The portfolio, leased to over 100 tenants, is 70% occupied.
The company said that since the income from this portfolio is diversified by a large number of tenants, risk is mitigated.