Young Plaza - 420 N Main St, Manahawkin, NJ

One thing we've noticed this year is just how competitive the market has become for quality unanchored strip centers. Investors love the diversification that comes with multiple tenants, especially when the rent roll is made up of food, medical, fitness, beauty, and other service-oriented uses that people visit every week. It's become one of the strongest retail asset classes we're selling, and this property was no exception. The buyer was completing a 1031 exchange, which continues to be a big source of demand for assets like this.