The buyer was State Street Ventures LLC, a local partnership. The seller had recently upgraded the building, according to Vito DeGennaro, sales director for Gerber/Somma. Alan Lieberman of Gebroe-Hammer Associates of Livingston, NJ, represented the seller.
"We are experiencing a tremendous demand for solid income properties, which is translating into a huge amount of sales activity that seems to be impervious to any adverse economic news on the national scene," says DeGennaro.
NOT FOR REPRINT
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.