There are some exciting opportunities and we are seeing these projects come across our desks in a way that we have never seen before. So, we are getting the at-bats and we are taking a swing.
HARRISON—Houlihan Lawrence Commercial, a division of Houlihan Lawrence, announced recently it had brokered the sale of a triple-net (NNN) retail building located at 307 Halstead Ave. in Harrison. The sale price was $3.6 million.
The seller was represented by Mike Rackenberg, Managing Director of the Commercial Division. The buyer was Dempsey Investment LP. The seller was MSB Halstead Holdings.
The property is located directly across from the Avalon Harrison and includes tenants Café Deux and The Pureganic Café. The 5,000-square-foot building traded for $720 per square foot and a 5.5% cap rate, both of which are record-setting numbers in the town of Harrison.
The buyer will enjoy the income that is generated from two tenants with long-term leases and solid local businesses, Houlihan Lawrence Commercial officials stated.
There are some exciting opportunities and we are seeing these projects come across our desks in a way that we have never seen before. So, we are getting the at-bats and we are taking a swing.
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