SOUTHERN, NJ — Vantage Commercial announced three recent deals in the Southern NJ area.
Vantage Commercial completed the sale of an investment portfolio consisting of four-property dental portfolio located throughout Southern New Jersey. Vantage Commercial was able to assist both the seller and the buyers, a Gloucester County-based investment group, with the transaction.
This unique portfolio consisted of four long-term leased dental properties located in Mullica Hill, Deptford Twp., Logan Twp., and Pennsville, each offering the investment group the stability of fully operational dental practices. These properties are situated in Gloucester and Salem Counties, both of which are experiencing exponential growth, thus attracting new investors to the local communities.
The portfolio comprises three out of the four properties in Gloucester County, tenanted by ProSmile, a national Dental Service Organization, and the fourth property, tenanted by a local dental group, Koala Kare, is located in Salem County.
The seller was able to capitalize on the current valuations of the land, buildings, and long-term dental leases, leading to a successful transaction. The investment group deployed funds from a 1031 exchange to secure the buildings with the understanding that the properties have the potential for continued increases in land and property valuations.
Vantage Commercial's Corinne Giletto, director of client services, and Emily Stein, managing director and director of healthcare services, were able to maximize the value of the portfolio by creating value in the current cap rate, future cap rate, and property valuations. Their expertise in identifying the purchaser who needed to deploy funds and find a secure long-term investment was paramount in closing the deal.
Both the seller and the buyer were extremely pleased with the transaction, and Giletto and Stein were able to help forge a future relationship with all parties, with the hope of developing Southern New Jersey further.
Speech Language Associates, LLC, announced that it has signed a long-term lease with Eastampton Place Urban Renewal, LLC, a prominent landlord in Eastampton. This marks the company's second location, solidifying its commitment to providing high-quality speech and language therapy services to the local community for many years to come.
The lease agreement was brokered by Ken Richardson, VP at Vantage Commercial, who represented both the landlord and tenant in the transaction. "It was a pleasure working with both Speech Language Associates, LLC and Eastampton Place Urban Renewal, LLC to secure this long-term lease agreement," said Richardson. "This new location will provide Speech Language Associates, LLC with the resources and space they need to continue delivering outstanding speech and language therapy services to the community."
The newly-signed lease will provide Speech Language Associates, LLC with a modern and well-equipped facility located in the Eastampton Place Urban Renewal, LLC complex. The facility will allow the company to better serve its clients and offer an even more welcoming and comfortable environment for families and individuals who seek speech and language therapy services in Eastampton and surrounding areas.