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MONROE TWP., NJ- Sidney Kanter, an individual local investor, has acquired a 13,824-sf single-tenant retail building here for just under $5.28 million, a sale price that factors out to about $382 per sf. The building, located at the southwest corner of N. Black Horse Pike and Berlin Cross Keys Rd., is fully occupied by an Eckerd drugstore. MS Investments One LLC, based in Atlanta, was the seller.

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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