Kimco Realty sells 629,575 s/f Latham Farms to The Davis Cos.; Newmark Knight Frank orchestrates sale

July 02, 2019 - Front Section

Latham, NY Newmark Knight Frank (NKF) completed the sale of Latham Farms to The Davis Cos. On behalf of Kimco Realty Corp., vice chairman Geoffrey Millerd, senior managing director Justin Smith and director Paul Penman of NKF’s Boston Capital Markets team, which is led by co-head of  U.S. capital markets Robert Griffin, oversaw the deal in conjunction with NKF executive managing director Thomas Dobrowski. The acquisition price was not disclosed

Totaling 629,575 s/f, Latham Farms is 84% leased to a diverse 26-tenant roster.

 anchored by Sam’s Club, Dick’s Sporting Goods | Field & Stream, Home Depot, Hannaford and All Star Wine & Spirits.

“Latham Farms is a best-in-class retail center with exceptional stability driven by long-term anchor leases, credit tenancy and a strong weighted average remaining lease term,” said Smith. “It features a strategic location within one of Greater Albany’s largest retail nodes and most affluent residential communities, generating super-regional draw.”

Latham Farms is 10 miles north of Albany, at the convergence of I-87 and Rtes. 2, 7 and 9. It is surrounded by three- and five-mile population counts of 41,100 and 154,800 people, respectively, with corresponding average household incomes of $106,700 and $85,000.

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