Marcus & Millichap Lists $40.7M ShopRite Portfolio in New York

NEW YORK, NY– Marcus &Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for two ShopRite anchored shopping centers and one freestanding ShopRite store located in Upstate New York.

Steven Siegel, (middle left photo) a vice president investments and senior director of the firm’s National Retail Group in Manhattan, is representing the seller.

“The ShopRite centers are stable, long-term investments with no management responsibility,” says Siegel. “ShopRite’s excellent reputation in the region will generate significant interest and competition for this supermarket-anchored portfolio."

"The ShopRite properties allow an investor to acquire three management-free assets: one for seven years and two for 14 years,” adds Siegel.

The three properties are:

ShopRite Plaza–Warwick, (bottom right  photo) located on Route 94 South in Warwick, N.Y., 55 miles southwest of New York City, the 80,263-square foot retail center is anchored and master-leased by ShopRite. The listing price is $21,466,952, or $267 per square foot.

ShopRite Plaza–Ellenville, located on Shoprite Blvd. in Ellenville, N.Y., approximately 100 miles northwest of New York City, the 56,555-square foot retail center is anchored and master-leased by ShopRite. The listing price is $10,000,000, or $177 per square foot.

ShopRite–Fairview Plaza, located on Healy Boulevard in Hudson, N.Y., approximately 100 miles northeast of New York City, the property is a freestanding 59,722 square foot triple-net-leased ShopRite grocery store. The listing price is $9,258,000 or $155 per square foot.

ShopRite Supermarkets Inc. is a wholly owned subsidiary of Wakefern Food Corp. ShopRite stores are among the highest volume stores in the supermarket industry.

Through nearly 60 years of service, ShopRite has built a reputation as a low-price leader while offering the five million customers it serves each week unprecedented variety and excellent customer service.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716