Wednesday, March 30, 2011

Hoover Development Sells Walgreens Bldg for $6.8M

"Hoover Development LLC sold the retail building located at 1001 N. Berlin Rd. in Lindenwold, NJ for $6.84 million, or about $472 per square foot. The NNN-leased, fully occupied Walgreens was sold to a NY-based investor.

The retail building was delivered in 2010. It totals 14,485 square feet and sits on 1.14 acres in the South Camden County submarket. The original lease term was for 25 years with 50 one-year options."

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