Highcap Group along with associate Jeff Weiss, arranged the sale of the property located at 1114 Market St. The property was purchased for $1.6 million in an all-cash transaction. Josh Goldflam and Weiss acted as exclusive advisors in the transaction.
The three-story mixed-use retail and office building consists of 43,700 gross s/f and is primarily occupied by JP Morgan / Chase Bank. The tenant leases 2 of the 3 floors and the 3rd floor was delivered vacant. The tenant has a long term lease in place and has been located at the site for many years. This location serves as the dominant bank in the town of Wheeling and provides for a very safe investment for the purchaser.
The purchase price of $1.6 million represents an 8.1% cap-rate.