New Jersey

Liberty Tax, soon to be renamed the Franchise Group, has inked a definitive agreement to acquire the Vitamin Shoppe in an all cash transaction. The Vitamin Shoppe conducts business through more than 750 company-operated retail stores under The Vitamin Shoppe and Super Supplements retail banners nationwide.

The firm reports it paid $42.85 million for the eight-story, 233,166-square-foot, Class-A office property at 1111 West 22nd St. Located in the East/West submarket, the building is 93% occupied.

CCC will lease a 40,000-square-foot building in Lehigh Valley Industrial Park. The company has pledged to invest at least $9.5 million into the project.

JLL advised the borrower on the refinancing of the existing construction financing on the property.

CBRE, which brokered the transaction, reports the 75,000-square-foot medical office building was sold by the Eye Institute of New Jersey to a private investor.

The largest transaction was with wireless site development firm Network Building & Consulting, LLC, which agreed to add 10,491 square feet to its space at Keystone’s VEVA, a 417 420,546 square-foot office campus in Blue Bell, PA.

The transaction, reported by NAI James E. Hanson, marks Long Point Realty Partners second acquisition in the Garden State.

In its second quarter financial announcement, the company revealed that on Monday (Aug. 5) it secured a $150-million mortgage on its 111 River St. office building in Hoboken, NJ.