AG and partners purchased the vacant property from anundisclosed investor earlier this year; it was formerly a warehousefor the Wiz, the regional electronics retail chain owned byCablevision Systems Corp. The latter had acquired the chain lastyear, rescuing it from bankruptcy. After a number of Wiz storeswere closed and the chain's distribution needs were reduced, theCarteret facility became surplus property.
Cushman & Wakefield Inc. acted as broker in both thepurchase and lease transactions. AG Real Estate Funds is the realestate investment arm of Angelo, Gordon & Co.
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