CARTERET, NJ-The Hampshire Cos. has purchased the former Pathmark headquarters building at 200 Milik Street here for $5.85 million, says HFF, which marketed the property for seller Cofinance Inc.
The 148,399-square-foot, two-story building, originally built in 1981 and expanded in 1987, was acquired debt-free. Pathmark was acquired by The Great Atlantic & Pacific Tea Company, Montvale, NJ, in 2007.
“200 Milik Street was developed to headquarters-quality standards and has highly divisible floorplates ideal for either single or multi-tenancy layout, which should appeal to a broad range of tenants when the new buyers seek to lease-up the vacant property,” said HFF senior managing director Jose Cruz in a statement. Also on the HFF team were senior managing director Andrew Scandalios, managing director Michael Nachamkin and directors Kevin O’Hearn and Jeffrey Julien.
Cofinance, the U.S. subsidiary of Cofinance Group, a French-owned real estate investment company, acquired the building in 2008 from Lexington Realty Trust for $14.7 million. Cruz handled that sale while with Cushman & Wakefield.
The property features a full-service cafeteria and parking for 655 vehicles. Situated on 12 acres, 200 Milik Street is close Exit 12 of the New Jersey Turnpike, Interstates 287, 78 and 278. A 2010 LoopNet listing noted an asking rent of $19 per square foot.
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