Zvi Ziskind & Laibel Newhouse Acquire Retail Asset At 151 Pierce Street For $13.4M

A retail asset located at 151 Pierce Street in Somerset was sold for $13,400,000. The property has a size of 38,828 square feet, equating to a price per square foot of $345. The asset involved in this transaction is a 13-tenant strip center that is fully leased.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $13,400,000
• Address: 151 Pierce Street
• Market: Somerset
• Square Footage: 38,828
• Price per Square Foot: $345
• Buyer: Zvi Ziskind & Laibel Newhouse
• Seller: Neal Tawani
• Brokers: Haley Hasho & Vik Agrawal - Exodus Capital
• Cap Rate: 7.7%
• Note: 13-tenant strip center fully leased sold at a 7.7% return.

Haley Hasho and Vik Agrawal represented the buyer, Zvi Ziskind and Laibel Newhouse, in this transaction. Exodus Capital, along with their broker of record Bang Realty-New England, Inc, represented Neal Tawani, the seller of the property located at 147-151 Pierce Street.