Single-Tenant Retail Building Sells for $382 per SF

By remstaff & By Globe Street | September 09, 2005 at 10:14 AM

MONROE TWP., NJ-MS Investments One sells the 13,824-sf Eckerd Drug-occupied building to a local investor.

Kanter completed a 1031 tax-deferred exchange with the acquisition. The transaction was arranged for the seller by Mark Taylor and Dean Zang of the retail investment group of Marcus & Millichap's Philadelphia office.

The transaction also included the signing by Eckerd of a new lease with the buyer. The triple-net lease carries a term of 20 years; further terms of the lease were not released.

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