Brick Township Retail Plaza Changes Hands in Multi-Million Dollar Deal
A popular Brick Township, Ocean County, shopping center sold for $7.25 million. The deal shows investor confidence in suburban New Jersey retail despite changing customer preferences and economic uncertainties.
About six acres of Yorktowne Plaza has 41,000 square feet of retail space. The plaza has long offered Brick Township residents food, banking, medical, and specialist services in a lively business environment. Its size, location, and tenants attracted bidders.
Frank and father bought the shopping mall, transaction data shows. Ocean County Equities held. Industry observers familiar with the purchase say family-based investment groups are increasingly targeting dependable, income-producing retail firms like this one, especially national and regional names.
Yorktown Plaza has 23 stores. Mariner Finance, Nova Games, Domino’s, Crown Fried Chicken, and Community Medical Center are popular tenants. This broad tenant mix spreads revenue across food service, healthcare, and finance, reducing investment risk.
The 1965 plaza has long served as a neighborhood shopping center. Old but still a business hub, it draws foot traffic and serves neighbors’ needs. Established malls attract buyers since they are interwoven into the community and require less repositioning than new ones.
Seller represented by Marcus & Millichap commercial real estate. Commercial real estate experts believe the sale price reflects the property’s continuous cash flow and high retail demand in Ocean County’s densely populated districts.
This deal illustrates New Jersey commercial real estate trends. Large malls collapse, whereas smaller shopping centers with service tenants survive. These assets are economically resilient and less harmed by online buying.
These transactions demonstrate the benefits of strategically situated retail centers as Brick Township grows. Locals won’t notice changes because the new owner wants plaza tenants to maintain operations.
Sources
Marcus & Millichap
Ocean County property records
Brick Township municipal property data
