Friday, October 14, 2016
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
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com