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Kislak Sells Somerville Mixed-Use Property

SOMERVILLE, NJ-The 7,000-square-foot, fully occupied property is trading hands for just over $1 million.

By Alyson Grala | Updated on September 28, 2009

SOMERVILLE, NJ-The Kislak Company, Inc. recently completed the $1.05-million sale of a 7,000-square-foot mixed-use property located at 5-11 W. Main St. here. Sales associate Jeffrey Squires represented both parties, private investors, in the transaction.

“The property had previously been listed with another broker,” Squires tells GlobeSt.com. “But after meeting with us and learning more about our history throughout New Jersey, the seller provided us with an exclusive listing agreement to sell the property.”

Located in downtown Somerville, the property was fully renovated in 2007 and includes two two-story buildings with four retail spaces, two two-bedroom apartments and on-site parking. Tenants are responsible for paying separate utilities. At the time of closing, the property was fully occupied and cash flow positive.

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