Saturday, June 12, 2010

Office Depot Sells Two Retail Stores for $6M

"Office Depot sold two retail stores in Deptford, NJ, and Langhorne, PA, to Sixth Avenue Electronics for a total of $6 million.

The New Jersey building, located at 1409 Almonesson Road, totals 25,068 square feet and sold for $3.3 million, or $132 per square foot. The property, which is situated across from the Deptford Mall, has been vacant for a year.

The retail building in Pennsylvania, located at 2365 E. Lincoln Highway, is 25,000 square feet and sold for $2.7 million, or $107 per square foot. It is located across from the Oxford Valley Mall.

Sixth Avenue Electronics is steadily adding locations through out Pennsylvania and New Jersey."

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