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Lowe’s and Sam’s Club at Kingston Center Go for $36.5M
Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s National Retail Partners represented United Hampshire US REIT in the sale of the Lowe’s and Sam’s Club in Kingston, NY for $36,500,000. CBRE also procured the purchaser, an institutional buyer.
Lowe’s and Sam’s Club are situated within the larger Hudson Valley Plaza, a 673,000-square-foot regional power center anchored by complementary retailers such as Walmart and PetSmart. The property is situated at the intersection of Rt. 199/209 and 9W and is within 1.5 miles of the New York State Thruway, providing both local and regional access to the center.
The center provides stable, high-credit income through net leases with Lowe’s and Sam’s. Both Lowe’s and Sam’s have been tenants since 1996. Lowe’s recently completed a long-term renewal and has 15 years of remaining lease term, while Sam’s Club has exercised multiple options to renew its lease at the center.
- ◦Sale/Acquisition
