NEW JERSEY—A 54,866-sq.-ft. parcel of land located in Woodbridge has been sold for $912,500. Greg Babaian, vice president investments in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, a private investor. Babaian also secured and represented the buyer in the transaction.

This fully approved development site is located at 414 Rahway Avenue. Approvals for the project consist of retail space totaling 12,528 sq. ft.

The Learning Experience, a daycare and child learning center, will occupy the entire first floor of the building. Currently, the company has more than 50 locations within New Jersey.