(To read more on the TIC market, click here.)
MARLTON, NJ-Triple Net Properties has picked up the 88,793-sf Lake Center IV bought on behalf of a group of tenant-in-common investors for $19.8 million. The seller was Lake Center IV LLC.
Lake Center IV, located at 401 Route 73 North, is a four-story class A building constructed by Opus East in late 2004. The building is 93% leased and 76% occupied by Indymac Bank FSB (with 53% of the building), law firm Stark & Stark, law firm Rawle & Henderson and Grubb & Ellis, which was marketing the building for sale.
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