French connection in Carteret

Real Estate Weekly, July 9, 2008

Cofinance, Inc., the United States subsidiary of Cofinance Group, a French-owned real estate investment company (collectively "Cofinance"), has purchased 200 Milik Street, a 150,000 s/f office building in Carteret, from Lexington Realty Trust. Cushrnan & Wakefield's Metropolitan Area Capital Markets Group orchestrated the $14.7 million sale.

Originally constructed as the headquarters facility for Pathmark Stores, Inc., 200 Milik Street has been fully occupied by Pathmark for more than 25 years. Pathmark has an absolute net lease for the entire building through December 2011. Cofinance, working closely with Pathmark, will begin to re-tenant 200 Milik Street immediately. They are offering very creative lease structures at favorable rent and terms.