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Long Island
Posted: July 2, 2019
Silber of Silber Investment Properties arranges $8 million sale; 13,000 s/f retail building sold to JRI 28CI LLC; NNN leased to CVS
Silber Investment Properties
Central Islip, NY JRI 28CI LLC, a New York City-based real estate investment group, has purchased a retail property for $8 million from Pandem Enterprises. The 13,000 s/f retail building is located on 1.31 acres at 2-8 East Suffolk Ave. and has a NNN leased CVS drugstore as the tenant. Adam Silber of Silber Investment Properties (SIP) represented the buyer, as well as the seller.
“CVS is an investment grade tenant,” said Silber. “This improves the value and marketability of CVS and other corporate guaranteed net lease properties.”
Long Island-based commercial real estate brokerage 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 NNN properties across the country.
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