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ROCKAWAY TWP.-The newly constructed Dick’s Sporting Goods store here has been sold by an affiliate of the Morristown-based Hampshire Cos. to a pair of investment groups. Carport LLC and 111 ON Realty Corp. are the new owners of the 80,000-sf unit, which traded for $26 million, or approximately $325 per sf.

“The purchase of the store provides an exceptional triple-net investment,” says Jeffrey Dunne of CB Richard Ellis’ New York Tri-State Region Institutional Group, who brokered the deal. “It will provide the new ownership with long-term, predictable cash flow,” says Dunne, who notes that Dick’s Sporting Goods holds a lease that runs through February 2027.

The Dick’s store is within Rockaway Town Plaza, a 410,000-sf power center that sits adjacent to the 1.2 million-sf Rockaway Townsquare Mall. Both shopping centers are projects of Simon Property Group. A 154,000-sf Target store sits just to the south of Dick’s, while a multi-tenant 108,000-sf strip abuts the property to the north.

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