In a sale transaction, the 50,000-sf Ironstone Village Center at560 Stokes Rd. here has changed hands for $7.6 million, orapproximately $152 per share. The deal was brokered for both buyerand seller, identified only as "private investors," by salesassociate Don Baxter of the Kislak Co., Woodbridge. The buyer wasdescribed as a "long-time client," the seller a new one.

"This was an excellent investment," Baxter says. "Medford isconsidered one of the top suburbs of the Philadelphia area, withoutstanding demographics. The buyer plans to upgrade the propertyand may potentially develop the adjacent land."

The property was 95% occupied at the time of sale, with suchtenants as Salad Sensations Bambo Yamas and Ironstone Village Deli& Catering. Meridian Capital Group's Steven Tessler arrangedthe financing, which was obtained from WaMu.

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