LODI, NJ— Pako Realty is paying $12 million to acquire Essex Square, a 16,000-square-foot retail strip center located within the prestigious Route 17 retail corridor in the New York City suburb of Lodi, NJ.
Holliday Fenoglio Fowler arranged the sale of the 16,000-square-foot retail strip center on behalf of the seller, ARC Properties. Capstone Realty Group advised Pako, and facilitated a 1031 tax exchange of the center that was acquired all cash.
“The center is well located and fits well with our investor's strategy for long-term stable ownership,” says Monica Kang, a principal with Capstone.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.