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Frank Petkunas - CRG Services Management LLC Acquires Retail Property In Phillipsburg, NJ For $43.25M

Property Image
SOLD
$43,250,000

New Jersey

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Retail577,138 SF
Sold 05/27/2022
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Property Image
SOLD

Frank Petkunas - CRG Services Management LLC Acquires Retail Property In Phillipsburg, NJ For $43.25M

1200 US Route 22, Phillipsburg, New Jersey 08865, United States

See Similar Deals
Retail577,138 SF
Sold 05/27/2022
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$74
Total Square Footage:577,138 SF
Transaction Type:Sale

The Phillipsburg Mall, located at 1200 US-22 in Phillipsburg, NJ, has been sold in a closed transaction. The buyer of the retail property is Frank Petkunas, representing CRG Services Management LLC. The seller of the property is Gil Loloi, representing Namdar Realty Group LLC.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $43,250,000
  • Square Footage: 577,138
  • Price per Square Foot: $75

The Phillipsburg Mall will undergo redevelopment into an Industrial Warehouse, according to a note from @NamdarLLC. Gil Loloi of Namdar Realty Group LLC is actively involved in buying and selling properties, and they invite potential developers for joint ventures. For more information on acquisition criteria, disposition lists, and equity details, interested parties can contact Gil Loloi at [email protected] or call 516 9263327.

Players

GL
Namdar Realty Group
Gil Loloi
3 deals$53.3M volume
SELLER

Details

SOLD
IMAGE: Gil Loloi DATE: 05/27/2022 ADDRESS: 1200 US-22 MARKET: Phillipsburg, NJ ASSET TYPE: Retail BUYER: Frank Petkunas - CRG Services Management LLC SELLER: Gil Loloi (@GillLoloi)- Namdar Realty Group LLC (@Namdarllc) SALE PRICE: $43,250,000 SF: 577,138 ~ PPSF: $75 NOTE FROM @NamdarLLC: The Phillipsburg Mall will be redeveloped into an Industrial Warehouse. Contact us for our Nationwide Redevelopment Malls for sale. We are open for JV's with potential developers. We are very active Buyers and Sellers, get our Acquisition Criteria, Disposition List, CO-GP and LP Equity Details. Contact us at [email protected] or call at 516 9263327

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Debt Service Coverage Ratio (DSCR)

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