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Business par sells
Montclair Business Center, a 96,300-square-foot facility at 4650 Arrow Highway, has sold for $13.7 million, according to a statement.
Both the buyer and seller were private investment groups, according to Avison Young, the global commercial real estate firm that represented the seller in the negotiations.
Built in 1980, the business center recently underwent several major upgrades, including new landscaping and the replacement of several roofs. The project has seven buildings and sits on about six acres, according to the statement.