Scarsdale, NY, January 12, 2022 --Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Balducci's Plaza - a 9,181-square foot retail property located in Scarsdale, NY, according to Susan Bands, regional manager of the firm's Westchester office. The asset sold for $7,850,000.

Kodi Traver and Joseph French Jr., investment specialists in Marcus & Millichap's Westchester office, had the exclusive listing to market the property on behalf of the seller, Heathcote Corners II. The buyer, Great Eastern Limited Partnership, was secured and represented by Joseph French Jr. and Schuyler Boylan, investment specialists in Marcus & Millichap's Westchester office.

Traver comments, "This was a rare trophy retail property located in the heart of prestigious Five Corners of Scarsdale, NY. It is a 100% occupied retail property shadow anchored by top producing Balducci's grocery. We identified a qualified buyer who appreciated owning this trophy asset and brought the deal to a successful closing."

Balducci's Plaza is located at 1 Palmer Ave in Scarsdale, NY. The property serves as an idyllic 1031 exchange opportunity.


# # #

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Marcus & Millichap Inc. published this content on 12 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 08:50:07 UTC.