News:
Brokerage
Posted: November 6, 2018
Charterhouse Development Corp. acquires two Kinney Drugs retail locations
St. Johnsville, NY Charterhouse Development Corp., a commercial real estate development and investment company based in Boston, has acquired two Kinney Drugs retail stores in the region, located in St. Johnsville and Dolgeville.
Located at 12 Park Pl. in St Johnsville, the 8,400 s/f store was acquired by an entity operated by Charterhouse Development from Kinship Management LLC.
The Dolgeville store is located at 55 Main St. and it contains 8,400 s/f. This location was similarly acquired by an entity operated by Charterhouse Development.
The purchase price was $1.125 million for both locations which were both owned by Kinship.
“These two Kinney Drugs locations are excellent additions to the drugstore side of our portfolio,” said Meredith Roy, president of Charterhouse Development. “We will look forward to being a part of these two established historic upstate New York communities.”
“These acquisitions by Charterhouse Development are strategic investments for us as we continue to grow our presence in Upstate New York and the Northeast as a whole,” said Brandt Sharrock, vice president at Charterhouse Development.
Kinney Drugs is a nationally recognized chain of over 110 drugstores and pharmacies in Central and Northern New York, with additional locations in Vermont.
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap brokers $16.25 million sale of Ponce Bank flagship headquarters in the Bronx
Bronx, NY Marcus & Millichap negotiated the sale of a net-leased bank property occupied by Ponce Bank. The asset sold for $16.25 million. “This property drew tremendous interest as it was a
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,