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'Express' sale.

William C. Hanson, president of NAI James E. Hanson, Inc., announced that the team of Lee N. Eagles and Thomas W. Ryan, senior vice presidents, has successfully closed on the sale of a 233,000 s/f office building located at 711 Ridgedale Ave. in East Hanover, N.J.

The property was sold by Express Scripts, Inc. to Preferred Real Estate Investments, Inc. of Conshohocken, Penn.

In addition, Express Scripts, Inc. leased back 44,000 s/f at the facility and plans to keep its marketing and accounting operations in this space to handle the Northeast region. Express Scripts, Inc. is a nationally known prescription fulfilling company.

Tom Ryan stated, "We were proud to have represented Express Scripts, Inc. in the sale of this outstanding property. The investment community continues to be very active with a great deal of capital willing to invest on quality assets."

Lee Eagles added, "This successful transaction was due to our target marketing efforts, which identified the fight buyer for this type of office building."
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Title Annotation:New Jersey; Express Scripts Inc., Real Estate Investments Inc.
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Mar 3, 2004
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