New Jersey-based Town Title Agency (Town Title) announced that it successfully insured over 300 title transactions in Q3 2020, totaling over $197 million. The transactions insured many residences and refinancings, as well as notable deals involving commercial spaces, especially for retail net lease spaces and logistics company transactions.
“Locally and nationally, we are seeing net-lease deals trending upward for certain property types, including gas and convenience stores, logistics companies, and tractor supply stores,” said Christopher Rotio, executive vice president for town Title. “While commercial volume will remain down in New York City, we are seeing strong deal flow in other parts of the country that are being driven by favorable commercial lending, interest rates and distressed opportunities — and will continue to in 2021.”
The closed deals include:
- The purchase of a CVS Pharmacy at 118 Northampton Street in Easthampton, Massachusetts for $5.34 million;
- The acquisition of a FedEx property at 175 Buck Road in Nichols, New York for $14.87 million;
- The acquisition of the Duke Health building at 1565 Orchard Villas Drive in Apex, North Carolina for $5.5 million;
- The purchase of a Tractor Supply Co. storefront in Alamosa, Colorado for $3.8 million;
- Ensuring the closing of multiple apartment buildings throughout Bergen and Essex Counties in New Jersey for $14.1 million and
- The financing of a distribution center for butcher Pat LaFrieda for $6.7 million.
