Wakefern Food Corp. sought the expertise of our Real Estate Department in connection with the acquisition of ten operating supermarkets located in New Jersey and New York, from the Stop & Shop Supermarket Company LLC. We were successful in coordinating the engagement of environmental consultants, structural and mechanical engineers and a national title company; and managing completion of all due diligence reports within Wakefern's timeframe. This transaction was complicated by the fact that all due diligence issues related to the leases being acquired, condition of title, environmental and physical property conditions had to be reviewed and analyzed by our team on an expedited basis. The matter was further complicated by the negotiation of subleases for each location and the sub-sublease of each location to individual members of the Wakefern Food Corp. Despite these challenges, our team met Wakefern's expectations, closing this deal within the negotiated timetable.
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