TPG LLC And 1307 Property LLC Acquire Mixed-Use Properties For $2.08 Million In Springfield

The mixed-use properties located at 43 and 44 Commerce Street in Springfield, NJ, were sold for a combined price of $2,080,000. The total square footage of the assets is 6,100, resulting in a price per square foot of $341. TPG LLC purchased 43 Commerce St. for $685,000, while 1307 Property LLC acquired 44 Commerce St. for $1.395 million.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $2,080,000
• Buyer: TPG LLC & 1307 Property LLC
• Broker representing seller: Gregory Irving - Bussel Realty Corp
• Broker representing buyer of 44 Commerce St.: Bennett Realty

The transaction involved TPG LLC and 1307 Property LLC as the buyers of the respective properties. Gregory Irving of Bussel Realty Corp. acted as the representative for the seller in both transactions, ensuring a smooth negotiation process. Additionally, Bennett Realty represented the buyer of 44 Commerce St., facilitating the acquisition of the neighboring property.