American Investment Properties completes $2.8m sale of shopping center

On January 30, American Investment Properties, completed the sale of 119 North Wellwood Ave., a shopping center. The 8,100 s/f property was sold for $2.8 million or $246.91 per s/f. The property was bought by a private real estate investor. The 6 tenant property consists of tenants including, Quiznos, Suffolk Legislator, a doctor's office, hair salon, diet center, an accounting office and 6 apartment units. The shopping center recently went through a gut renovation and is conveniently located between Sunrise Highway and West Montauk Highway, with front exposure on North Wellwood Ave. The transaction was assisted by Silber Investment Properties. American Investment Properties is known for brokering the sale of office buildings and shopping centers throughout Long Island. Some of their most recent transactions include 440-452 Central Ave.in Cedarhurst and 335 Smithtown Blvd. in Ronkonkoma.