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Brokerage
Posted: September 22, 2014
Caporrino and Cote of Sovereign Realty Group complete sale of free-standing bank for $3.5 million
Sovereign Realty Group, one of the nation's premier net leased brokerage firms, completed the sale of a free-standing bank building.
Capital One Bank is the sole occupant of the property located at 386 Forest Ave. The property features a 3,165 s/f building that sits on a .23 acre parcel. Capital One has a long term NNN lease and has been a tenant at the site for 4 years. The property sold for $3.5 million or $1,105 per s/f.
Frank Caporrino and Clem Cote, managing principals of SRG were the brokers on the transactions. The seller was Train City Ltd. and the buyer was a private investor from N.Y.C.
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