Press Releases
Marcus & Millichap Arranges Sale of Net-Leased Daycare Property in Northern New Jersey
April 23, 2025
PARSIPPANY-TROY HILLS, N.J., April 23, 2025 – 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 BrightPath Childcare Center, a net-leased property located in Parsippany-Troy Hills, New Jersey for $4,300,000.
“Net-leased daycare assets provide investors with a higher yield than most other net-leased properties,” said Alan Cafiero, senior managing director investments. “This is critical for obtaining debt that pencils out in today’s market.”
Alan Cafiero, David Cafiero and John Moroz, investment specialists in Marcus & Millichap’s New Jersey office, exclusively marketed the property on behalf of the seller and procured the buyer.
BrightPath Childcare Center is located at 70 Old Bloomfield Ave. in the Parsippany-Troy Hills township. Built in 2014, the 11,266-square-foot center occupies a large, R-3 zoned 1.69-acre lot with 41 parking spaces. Brightpath Kids is one of North America's largest childcare providers, with more than 230 centers across Canada and the U.S. Nearby national retailers include: Home Depot, Wawa, Wendy's, Dunkin', 7-Eleven, Bank of America, Chipotle, McDonald's, and Target.
“Net-leased daycare assets provide investors with a higher yield than most other net-leased properties,” said Alan Cafiero, senior managing director investments. “This is critical for obtaining debt that pencils out in today’s market.”
Alan Cafiero, David Cafiero and John Moroz, investment specialists in Marcus & Millichap’s New Jersey office, exclusively marketed the property on behalf of the seller and procured the buyer.
BrightPath Childcare Center is located at 70 Old Bloomfield Ave. in the Parsippany-Troy Hills township. Built in 2014, the 11,266-square-foot center occupies a large, R-3 zoned 1.69-acre lot with 41 parking spaces. Brightpath Kids is one of North America's largest childcare providers, with more than 230 centers across Canada and the U.S. Nearby national retailers include: Home Depot, Wawa, Wendy's, Dunkin', 7-Eleven, Bank of America, Chipotle, McDonald's, and Target.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
