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New York & Tri-State  + Long Island  + Retail  | 
Northmarq arranged the sale of a Chik-fil-A location in Huntington, NY, within Long Island's Suffolk County

Northmarq Brokers Chick-fil-A Sale in Long Island’s Suffolk County

Northmarq SVP Maggie Holmes and managing director Mike Sladich completed the sale of a freestanding retail property located on East Jericho Turnpike in Huntington, NY, within Suffolk County. The 4,996-square-foot property is leased to Chick-fil-A.  

Holmes represented the seller, an Elmsford, NY-based shopping center owner and developer. A New York-based private family office in a 1031 exchange acquired the asset for $7.6 million reflecting a 3.68% cap rate. 

“While we’ve certainly seen a shift in cap rates across the country this quarter, this sale represents the fact that private investors are still willing to pay a premium for best-in-class tenants in high barrier-to-entry markets.” said Holmes. “With nearly 2.5 acres of prime real estate on Long Island and a 20-year lease, this property will be a generational asset that can justify a cap rate below the 10-year treasury due to the long-term viability and appreciation of the real estate.” 


Inside The Story

Northmarq's Holmes

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 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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