Renaissance Properties sells mixed-use Metuchen complex for $30M

A mixed-use property in Metuchen has sold for $29.6 million, Real Estate NJ reported. Renaissance Properties sold The Hub at Metuchen as part of a 1031 exchange to a private buyer, according to the outlet. The complex houses 79 rental apartments and about 11,000 square feet of retail space. Rents range from $1,900 to $2,800 a month. The JLL capital markets team that arranged the deal included Jose Cruz, Steve Simonelli, Michael Oliver, Kevin O’Hearn and Michael Kavanagh. [RE-NJ]