Plainview, NY 11803
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PLAINVIEW, NY, December 3 – Realty One Partners, LLC of Bayshore, NY has acquired two CVS locations; one on Long Island located at 682 NY-25A, East Setauket, NY from SCP 2002A20 LLC and one outside Scranton, PA located at 351 S. Main Street, Wilkes-Barre, PA from SCP 2002E-59 LLC. Each location is approximately +/- 14,000 square feet and are standalone CVS tenants. The total sale price for both acquisitions was $3.334M with a 5.4% blended cap rate. Stuart Frankel represented sellers and Adam Silber represented the buyer, both of Silber Investment Properties, on this deal.
The CVS stores were sold with brand new leases, which continued to change throughout the deal. Silber Properties acted as the liaison to both parties throughout this negotiation to ensure both parties were satisfied with terms and conditions of the deal to bring it to close.
Silber Investment Properties will be attending this week’s ICSC New York Deal Making Convention at The Jacob K. Javits Convention Center of New York, December 4th through 6th. To meet up and discuss possible opportunities, contact Adam Silber at email@example.com.
ABOUT SILBER INVESTMENT PROPERTIES
Long Island based commercial real estate brokerage; Silber Investment Properties (SIP), specializes in the acquisition and disposition of retail investment properties ranging from multi-million dollar shopping centers to a single tenant chain store. In addition the SIP National Net Leased Division brokers hundreds of Triple-Net (NNN) Properties across the country. Silber Investment Properties has earned a reputation for brokering off-market, in-house transactions, and maintains relationships with REITs, large corporations, family trusts, developers, and private investors.