New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

New York & Tri-State  + Long Island  + Retail  | 

Net-Leased Supermarket Trades in Uniondale

Marcus & Millichap arranged the sale and financing of a 60,896-square-foot ShopRite grocery store in Uniondale, NY, within Long Island’s Nassau County. The property sold for $19.5 million.

“Wakefern Food Corp., the merchandising and distribution arm for ShopRite, is the largest retailer-owned cooperative in the United States; and with over 70,000 employees, is New Jersey’s biggest employer,” said Barry Wolfe of Marcus & Millichap’s Fort Lauderdale office. Wolfe and Glen Kunofsky in the Manhattan office represented the seller.

Philadelphia-based Brad Nathanson of Marcus & Millichap’s Institutional Property Advisors division procured the buyer. Michael Helpern and Christopher Marks in Marcus & Millichap Capital Corporation’s Manhattan office arranged acquisition financing. John Krueger is broker of record in New York.

“Investors who targeted multi-tenant shopping centers prior to the pandemic are flocking to the safety of net-lease assets with large essential anchors, whether they’re supermarkets, warehouse clubs, or home improvement retailers,” said Nathanson.

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Marcus & Millichap’s WolfeConnect With Marcus & Millichap's KunofskyConnect With IPA’s Nathanson

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Lease
New call-to-action
New call-to-action