Friday, October 14, 2016

HFF closes $30 million sale of ShopRite at Bay Shore, Long Island, NY

ShopRite at Bay Shore, 1905 Sunrise Highway, Long Island, NY
Jeffrey Julien
NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $30 million sale of ShopRite at Bay Shore, a 60,000-square-foot, single-tenant retail grocery property 100 percent leased to ShopRite in Bay Shore, Long Island.  

HFF marketed the property on behalf of the seller, G&S Investors.  A joint venture partnership between Mattone Group LLC and Gartenstein Properties purchased the asset free and clear of existing debt.

The ShopRite at Bay Shore building is triple-net leased to ShopRite, the largest retailer-owned cooperative in the United States, and is proximate to notable national tenants, including The Home Depot, Pier 1 Imports, Best Buy, Petco and Toys"R"Us. 

The property is situated on 10 acres at 1905 Sunrise Highway on one of Long Island’s most highly-traveled highways with daily traffic counts of approximately 80,000 vehicles per day. The three-mile radius surrounding the property is home to more than 119,000 residents with an average household income of approximately $100,000.

The HFF investment sales team representing the seller was led by managing director Jeffrey Julien and senior managing director Jose Cruz.

For a complete copy or the company’s news release, please contact:

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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