Commercial real estate firm Kislak Co. announced the sale of the Coining building, a Class A office building at 15 Mercedes Drive, Montvale.Commercial real estate firm Kislak Co. announced the sale of the Coining building, a Class A office building at 15 Mercedes Drive, Montvale.
The 60,000-square-foot property was sold to an unnamed local investor for $12.5 million.
“The Montvale seller is a longtime client and wanted to exchange it into a larger, multitenanted property,” Kislak Senior Vice President Barry Waisbrod said. “We were successful in helping to close both transactions for him.”
Waisbrod represented the seller. Kislak Vice President Janet Bortz represented the buyer.
“Once we made the Montvale deal, we worked very hard to identify the right exchange property for our client,” Waisbrod said. “We ultimately identified Island View Crossing, a strong and stable off-market opportunity with upside potential in an excellent Bucks County location. The seller had purchased it from a bank two years ago and stabilized it.”
Kislak also completed the sale of Island View Crossing, located at 1414 Radcliffe St. in Bristol, Pennsylvania. The Class A, 180,000-square-foot property sold for $20 million.