New York & Tri-State + Fairfield/Westchester + Retail | July 11, 2022

JLL arranged the sale of Samnsondale Plaza, a grocery-anchored shopping center in West Haverstraw, NY

Grocery-Anchored Retail Fetches $27M in Rockland County

JLL Capital Markets closed the $26.5-million sale of Samsondale Plaza, a 156,185-square-foot shopping center anchored by Stop & Shop in the Rockland County community of West Haverstraw, NY.

A JLL team of Jose Cruz, J.B. Bruno, Steve Simonelli, Michael Oliver, Kevin O’Hearn and Austin Pierce, along with Andrew Scandalios marketed the property on behalf of a joint venture between Mark Holdings LLC and Paragon Realty Group LLC. The buyer was an affiliate of Northeast Capital Group.

Along with Stop & Shop, other major tenants at the 91% leased center include the New York State Department of Motor Vehicles, Dollar Tree, Advance Auto, Sports Clips, Sally Beauty Supply and Mandee.

“Well-located grocery-anchored retail with upside in the rent roll continues to be in high demand today as investors look to increase their retail holdings,” Cruz said. “Samsondale provides a great current yield with a stable tenant base and future appreciation.”

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Inside The Story

JLL's Cruz

About Paul Bubny

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. 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 15-20 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).

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