Weiss Realty Represents Buyer and Seller in $5.25M Sale of Walgreens in Union City

On May 5, 2014

Representing both the buyer and the seller in a transaction is rare for most brokers, but not uncommon at Weiss Realty, which recently represented the Seller, and the 1031 Buyer in the $5.25M sale of the 11,000-square-foot Walgreens at 3333 Park Ave. in Union City.

Since the 1970s Jaime Weiss’s knowledge of the North Jersey market and his relationships with real estate players throughout the industry enables Weiss Realty to connect sellers and buyers expeditiously, according to the company.

“Each town – and there are 94 in Bergen County alone – is a separate market with a variety of edges and appeals to a separate category of investors,” says Mr. Weiss.   “Getting deals done in this environment can be very complex, but utilizing our knowledge of the local marketplace can garner a very rewarding outcome for all sides of the transaction.”

“Jaime is a local broker who is an expert in determining the fair market value of income properties, with experience in the Northern New Jersey market that a national broker would not have context for,” said Arnold Litt, the manager of the seller and instrumental in the negotiations of the purchase agreement with the buyer.  “His experience and a history in this marketplace made us very comfortable during this transaction.”

“Even though many of these mid-sized deals involve national tenants, only a broker specializing in this market can be truly effective.  There are numerous factors involving governmental approvals and obtaining permits that might effective value that only a local person would know, and we’ve been very pleased with the purchase agreement.”

Moonachie-based Weiss Realty Co., Inc. is a Commercial Real Estate firm specializing in representing a broad range of private investors, retailers, property owners and corporate clients.

Related Articles: