Jeff Ryer, CCIM/SIOR and Ginny Carroll, both of Ryer Associates Commercial Real Estate, Inc., recently brokered the sale of the commercial office building located at 14 Commerce Rd. The two-acre property is improved with a 15,618 s/f two-story office building occupied by TR Paul, Inc., a full service employee benefit consulting firm. The purchaser is 14 Commerce Rd. LLC.
Element Marketing Group, Inc., a full service marketing agency servicing the pharmaceutical industry, will occupy the upper floor with TR Paul relocating to the first.
Ryer Associates represented the seller, Five Industrial Park Associates, LLP, and Bryan Atherton of Atherton & Associates represented the buyer. The property sold for $1.4 million.
Ryer said, "This was a complex transaction but resulted in a complete win-win situation for all parties involved." Ryer also noted that the commercial real estate market seems to be gaining strength. Two other parties had strong interest in the property at the time that it went to contract.