by Steve Lubetkin, Globest.com
1837 Street Road, a 100,000-square foot property net-leased to Kmart in Bensalem, PA was sold for $3.6 million.
The asset sold for $3.575 million, $376,025 above the asking price, after a brief yet extremely competitive marketing period during which 12 offers were made within the first 24 hours.
Kmart has been located at 1837 Street Road since 1983. Kmart recently exercised a five-year option on its lease because of strong sales at the location.
www.omegare.com
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