6A — February 24 - March 9, 2017 — M id A tlantic
Real Estate Journal
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50,400 s/f building leased to Federal Express REMCO sells investment property for $3.57 million B
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ranchburg, NJ — Peter Gallicchio president of Somerset based Remco Realty Group has announced that the firm recently sold a single tenant net leased Industrial property located at 161 Meister Ave. to a New Jersey based invest- ment group. The 50,400 s/f building which has been leased to Fed- eral Express since its construc- tion in 1988 sits on 3.5 acres and features 28’ clear ceilings, five drive-in doors and 8,000 s/f of office space. This first time to market of-
161 Meister Ave.
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Joint venture acquires Thompson Square Shopping Ctr. Monticello, NY — A joint venture partnership be- tween Heidenberg Proper- ties Group, Strategic Real Estate Partners (SREP), and Norse Realty Group announces the $19.1 million acquisition of the Thompson Square Shopping Center in Monticello. Thompson Square is a 117,944 s/f shopping center anchored by a 54,300 s/f ShopRite. n Branchburg is home to such well known companies as; Amneal Pharmaceuticals, Agfa Corp, Acorn Display, Biosearch Medical, Beumer Corp, Bio-Connexx, Century Labs, Chubb Insurance, DA Marketing, Falcon Safety, FedEx, GE Power Systems, Hagelin & Co, Hydromer Inc, Imclone Systems, Intermex of America, Kinedyne Corp, Ki- netics Systems, Life Cell Corp, Merck & Co, Power Integra- tions, Pharmax Group, Sym- rise Inc, Shuutz Container, Tekni-Plex Films, Trimline Medical, Viva Optique, Vol- taix, and Zeus Scientific just to name a few. Remco was appointed by the seller to market this offering, and also secured the buyer. n fering generated interest from buyers in multiple States, and ultimately sold for $3.57 mil- lion or $70.83/s/f. The property is located in the Branchburg Business Park, midway between the Lehigh Valley Industrial Hub in Pennsylvania and Ports Newark and Elizabeth in New Jersey.
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