MARCUS & MILLICHAP BROKERS $2.45 MILLION RETAIL SALE

DEPTFORD, N.J. — The Philadelphia office of Marcus & Millichap has brokered the sale of a 5,000-square-foot retail building, located at 1188 Hurfville Rd. in Deptford, for $2.45 million. The two-tenant property, which was completed in late 2007, is occupied by FedEx/Kinko’s and The Vitamin Shoppe. At the time of occupancy, FedEx/Kinko’s signed a 5-year triple net lease with two 5-year extension options, and The Vitamin Shoppe signed a 10-year triple net lease with two 5-year extension options and scheduled rent escalations every 5 years. Mark Taylor, Dean Zang and Chris Munley of Marcus & Millichap represented the seller, 1188 Hurfville Associates LLC, which is an affiliate of EDEN Property Co. The trio also procured the private, out-of-market buyer. The property traded at a capitalization rate of 7.51 percent.