The sale involved a retail asset located at 800 West Edgar Road in Linden, NJ. The transaction was for a total price of $7,400,000 and comprised a property with a square footage of 5,585. The asset is situated on a 1.55-acre lot and is part of the Legacy Square Shopping Center, which has a total area of 350,000 square feet. This particular property is under a ground lease with Wawa and was sold at a capitalization rate of 5.07%.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,400,000
• Square Footage: 5,585
• Sale Price per Square Foot: $1,325
• Location: 800 West Edgar Road, Linden, NJ
• Market: Linden
• Acres: 1.55
• Seller: Chris Maguire - Cypress Equities; Terry Fancher - Stockbridge Capital Group
• Brokers: Britt Raymond, Kyle Fant, Matthew Mousavi & Patrick Luther - SRS Real Estate Partners

The transaction was facilitated by SRS Real Estate Partners, who acted on behalf of the sellers, Cypress Equities and Stockbridge Capital Group. The buyer was a New York-based private investor participating in a 1031 exchange, aimed at restructuring their investment portfolio through this acquisition, which is part of a broader strategy that includes multiple asset sales totaling over $100 million.