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Grocery-Anchored Center Fetches $34M in Poughkeepsie
Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s National Retail Partners represented EFG/Saber Heritage SC, LLC in the sale of Hudson Heritage in Poughkeepsie, NY for $34 million. CBRE also procured the buyer, Tampa, FL-based East Coast Acquisitions.
Hudson Heritage is a newly developed, 120,499-square-foot, ShopRite-anchored center, currently 92% leased. Other high-credit and complementary tenants at the center include CVS, Starbucks, Chipotle, AT&T, Jersey Mike’s, Burger King and PulseMD. It’s situated directly across from Marist College, which provides a built-in consumer base.
Dunne said, “The center’s attractive rent roll, high-volume grocery anchor and long-term leases provide highly stable income. The future residential development adjacent to the center will only further enhance foot traffic and tenant sales.”
Added Gavin, “We continue to see strong demand in Metro NY for properties like Hudson Heritage, which provide predictable cash flow in infill, high demographic markets.”
- ◦Sale/Acquisition
