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New York & Tri-State   /   August 20, 2020

Paul Bubny
By: Paul Bubny

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.

Inside The Story
About the Author

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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