(Save the date: RealShareNew Jersey comesto the Hyatt Regency, New Brunswick, NJ, September19.)
CHESTER, NJ-American Realty Capital hasacquired the French's Mustard headquarters in Chesterfor $10 million. The 100-year-old condiment company, asubsidiary of the British multinational firm ReckittBenckiser Group, has five-and-a-half years remaining onits lease.
American Realty Capital calculates the capitalization rate onthe deal at 9.64%.The building in Chester contains about 32,000rentable square feet. French’s, which was the creation of twoAmerican brothers, debuted at the 1904 St. Louis World’s Fair. Ithas been headquartered in New Jersey since 1987, when it waspurchased by Reckitt and merged with Durkee Famous Foods.
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