The Kislak Company, Inc. announced the $1.2 million sale of a 6,156-square-foot commercial building occupied by The Goddard School, located at 2500 Kuser Road in Hamilton Township, Mercer County.
The transaction was handled exclusively by Kislak Senior Vice President Daniel Lanni, who represented the seller, Rycel Land Associates, LLC, and procured the undisclosed buyer. Notably, the sale was restricted to the building improvements and did not include the underlying land, which is leased through 2057 with additional renewal options.
“This was one of the more complex transactions that I have handled since the sale involved only the real estate improvements, not the underlying land,” Lanni said. Deals with split ownership require careful coordination among all parties and a creative approach to structuring the transaction. I am proud we were able to navigate those challenges while keeping everyone aligned and concluding with a successful closing.”
The property is fully leased to The Goddard School, which has approximately 10 years remaining on its lease term plus subsequent renewal options, offering the new owner long-term income stability. Under the lease agreement, the tenant handles building insurance and HVAC maintenance, while also reimbursing the owner for real estate taxes and sewer expenses. The building itself features a roof that was replaced in 2020.
