FAMECO NEGOTIATES SALE
OF PROPERTY IN NORTH ARLINGTON, NJ

WOODBRIDGE, NJ — Fameco Real Estate, L.P., the region’s foremost full service retail real estate firm has completed the sale of 570 - 584 Ridge Road, North Arlington, NJ.

Fameco’s Carlo Caparruva and Dan Shabel represented the seller, Net Property Group in this 13,800 sf transaction. The sale price exceeded $2.35 million and a cap rate of 8.1% was realized. The buyer was Olga, LLC. The buyer utilized 1031 exchange money to purchase the asset and paid over a $170 per square foot rate for a fully leased downtown retail site. Tenants include H&R Block, local landmark Fatso Fogarty’s, Dollar Junction and Roots Health Food Store.

Fameco specializes in retailer representation, owner representation, investment sales and management services in New Jersey, Pennsylvania, Delaware and beyond. The firm is the exclusive representative for over 150 shopping centers and retail properties totaling 17 million square feet, manages more than 11 million square feet of retail space and exclusively represents more than 75 retailers expanding in the tri-state area. Fameco's Investment Sales Team has completed transactions in excess of $1 billion. Fameco is the ChainLinks member shareholder in the Delaware Valley. ChainLinks is the nation's largest retail-only real estate provider with 62 regional brokerage firms in the U.S. and Canada.

April 17, 2009