Marcus & Millichap has completed the sale of a mixed-use property at 219-225 E. Broad St. in Westfield, NJ, marking the second transaction the firm has arranged in this Union County suburb in as many weeks. The asset, located in one of New Jersey’s established downtown markets, traded for $5.9 million.
The deal was handled by Marcus & Millichap’s New Jersey office, where Alan Cafiero serves as executive managing director investments. Cafiero commented that the sale underscores sustained investor interest in mixed-use properties situated in what he described as New Jersey’s strongest downtown environments. He noted that Westfield’s demographic profile, retail performance and transportation connectivity are contributing factors in drawing capital to the area, particularly its direct rail access to New York City.
The property itself is a two-story building totaling 13,006 square feet on a 0.26-acre parcel along East Broad Street. Configured with five individual suites, the asset blends retail and commercial uses within a compact footprint. The building underwent renovation in 1995, updating the improvements while maintaining its downtown presence.
The tenant roster at the fully occupied property includes Sweetgreen, Club Pilates, Fred Astair Dance Studio, GamifyU and Exploratores. This mix of food, fitness, entertainment and educational concepts reflects a range of consumer-oriented uses within the building’s suites. Full occupancy at the time of sale provides in-place income for the new ownership.
Marcus & Millichap’s team of Alan Cafiero, David Cafiero and Damien Rance exclusively marketed the property on behalf of the seller and also procured the buyer. Their mandate covered positioning the asset to the investment community, highlighting its downtown Westfield location, tenancy and access to commuter rail. Specific details on the buyer and seller were not disclosed.
The closing adds to recent investment activity in Westfield, with this transaction following another Marcus & Millichap-arranged sale in the suburb in the preceding weeks. For investors focused on New Jersey retail and mixed-use assets, the sale illustrates ongoing capital deployment into fully leased, transit-accessible properties in established downtown corridors.
