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Tri-State

Mount Kisco HomeGoods property sells through 1031 exchange

The HomeGoods property in Mount Kisco (Credit: LoopNet)
The HomeGoods property in Mount Kisco (Credit: LoopNet)

An unidentified buyer has acquired a HomeGoods property in Mount Kisco.

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The buyer shelled out $6.8 million for the 24,834-square-foot store, according to the Westchester County Business Journal. The buyer purchased the property from The Kempner Corp. as a 1031 exchange, which allows the investor to defer capital gains when redeploying proceeds from the sale.

New York City-based real estate investment brokerage B+E advised on the transaction. HomeGoods has a 10-year double-net lease at the site, with four renewal options for five years each, the outlet reported. [WBJ]