The seller was represented in-house in the sale, while Profetawas represented by Tom Nuara of Resource Realty of Parsippany andEdison, NJ. Terms of the transaction, including the sale price,were not disclosed by the parties.
Petrucci had acquired the asset just a year ago from Viacom foran undisclosed amount as part of its aggressive strategy to buy upvalue-added properties in the New Jersey and Pennsylvania regions.In the process, Petrucci inherited Survivor Technologies as atenant occupying the entire building.
Survivor, a window distribution company, opted to stay in thebuilding, signing a long-term lease agreement that included thecompletion of substantial improvements to the facility. The companyuses the location as a regional headquarters and for warehouse andlight assembly.
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