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| ShopRite at Bay Shore, 1905 Sunrise Highway, Long Island, NY |
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| 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 | www.hfflp.com
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