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Radiological Center Sells for $3M

UNION, NJ-A local investor now owns the two-building 439/441 Chestnut St. complex, which is fully occupied by Modern Medical Modalities.

By Eric Peterson | Updated on July 21, 2008

UNION, NJ-The two-building, 9,400-sf property at 439 and 441 Chestnut St. here has been sold for just less than $2.9 million, or approximately $303 per sf. The asset is fully occupied by Modern Medical Modalities Corp., a publicly traded company that operates a radiological center on-site and is also headquartered at the property.

Both the buyer and seller were represented in the transaction by Tom Skobo, a broker with the locally based Brounell & Kramer Realtors. The sellers were Marvin and Janice Teitelbaum; the unidentified buyer was “a prominent investor in properties throughout Union and Essex counties,” Skobo tells GlobeSt.com.

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