Marcus & Millichap Inc.
08/04/2026 | Press release | Archived content
Marcus & Millichap Arranges Sale of Two-Property Multifamily Portfolio in South Jersey
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Marcus & Millichap Arranges Sale of Two-Property Multifamily Portfolio in South Jersey
August 04, 2026
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VINELAND, N.J., Aug. 4, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a two-property, 36-unit, multifamily portfolio in Vineland, New Jersey. The asset sold for $5,525,000.
"We took Vineland Gardens to a broad, regional audience and the positive response we received validated that approach," said Carson Rooney, associate investments in Marcus & Millichap's Philadelphia office. "46 groups signed confidentiality agreements over the marketing period, from Philly, New York and North Jersey. That depth of interest gave the ownership group leverage in negotiations and let us select a buyer for certainty of execution, not just price. The property traded at roughly $153,000 per unit to a North Jersey buyer entering Cumberland County for the first time. This deal underscores the growing appeal of South Jersey workforce housing, especially to capital from the northern half of the state."
Rooney, in association with Jim McGuckin, the firm's broker of record in New Jersey, exclusively marketed the property on behalf of the seller and procured the buyer.
The portfolio consists of 54,000 square feet across eight buildings at 508 N. West Ave. and 515 3rd St. The property at 508 N. West Ave. features six four-unit townhome-style and bungalow-style buildings. The townhomes were built in 1997, while the bungalows date to 1967. The property at 515 S. 3rd St. was built in 1967 and consists of two six-unit townhome-style buildings built in 1967. All units are two-bedroom apartments with hardwood flooring and on-site parking.
Located within 1.2 miles of one another, the properties are near State Route 55, State Route 40 and multiple N.J Transit stops.
"We took Vineland Gardens to a broad, regional audience and the positive response we received validated that approach," said Carson Rooney, associate investments in Marcus & Millichap's Philadelphia office. "46 groups signed confidentiality agreements over the marketing period, from Philly, New York and North Jersey. That depth of interest gave the ownership group leverage in negotiations and let us select a buyer for certainty of execution, not just price. The property traded at roughly $153,000 per unit to a North Jersey buyer entering Cumberland County for the first time. This deal underscores the growing appeal of South Jersey workforce housing, especially to capital from the northern half of the state."
Rooney, in association with Jim McGuckin, the firm's broker of record in New Jersey, exclusively marketed the property on behalf of the seller and procured the buyer.
The portfolio consists of 54,000 square feet across eight buildings at 508 N. West Ave. and 515 3rd St. The property at 508 N. West Ave. features six four-unit townhome-style and bungalow-style buildings. The townhomes were built in 1997, while the bungalows date to 1967. The property at 515 S. 3rd St. was built in 1967 and consists of two six-unit townhome-style buildings built in 1967. All units are two-bedroom apartments with hardwood flooring and on-site parking.
Located within 1.2 miles of one another, the properties are near State Route 55, State Route 40 and multiple N.J Transit stops.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on August 04, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on August 07, 2026 at 22:16 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]