TP Invests Acquires Vacant Distressed Medical Office In Central/North NJ For $950K

The transaction involved a vacant, distressed medical office located in Central/North NJ. The sale was executed off-market with a transaction amount of $950,000. The asset encompassed 5,000 square feet, resulting in a price per square foot of $190. The deal included 3 units, with the price per unit being $316,666.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $950,000
• Units: 3
• Square Footage: 5,000
• Price per Unit: $316,666
• Price per Square Foot: $190
• Buyer: TP Invests
• Broker Representatives: Cole Malinowski & Devin Foderaro - Vivid Arc Group - Keller Williams Realty

Cole Malinowski and Devin Foderaro of Vivid Arc Group facilitated the transaction, connecting the seller with the buyer and ensuring a successful closing despite challenges such as open permits and outstanding obligations. Their expertise in navigating these complexities allowed for immediate renovations and value creation for the buyer.