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NEWARK, NJ-In separate transactions, a former academic buildinghere and a retail/residential building in Chatham, NJ have beensold, according to Dean Marchi, first vice president of CB RichardEllis Private Client Group. The combined sales totaled $4.2million, "and both buildings received aggressive interest frominvestors," Marchi says.

The larger of the two buildings is the 25,199-sf 18 WashingtonPlace on this city's Washington Park. Formerly used as a school forSt. Phillip's Academy, it was sold for $3.3 million by the latterto a union, which was not identified. The deal was arranged byMarchi and CBRE's Richard Charles, with legal representation byCarol Stern of McCarter & English for the seller and ThomasKennedy for the buyer. The latter "plans a capital improvement atthe building, which it will utilize for its union-relatedactivities," Marchi says.