11/7/2008

EDEN Property entity sells commercial building for $2.45 million

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An entity of a EDEN Property Company, known as 1188 Hurffville Associates, has sold a two-tenant commercial structure built in 2007 to an anonymous buyer for $2.45 million.

Marcus & Millichap represented the seller of the 5,000-square-foot building, which was built to suit for tenants FexEx/Kinko's and The Vitamin Shoppe on just less than one acre in suburban Philadelphia. FedEx/Kinko's has a five-year lease with two five-year options and Vitamin Shoppe has a 10-year lease with two five-year options.

The sale price represents $490 per square foot, one of the highest per-square-foot prices for a shopping center in the Philadelphia area, according to Dean Zang of Marcus & Millichap.

The center is located at 1188 Hurffville Road in Deptford, N.J., near the Deptford Mall as well as large shopping centers.

Address: 1188 Hurffville Road, Deptford, N.J.

Size: 5,000 square feet

Built: 2007

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Filed Under: Retail

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