News:
Brokerage
Posted: September 13, 2022
Cleeman and Seelenfreund of Cleeman Realty Group complete $38.5 million portfolio sale of five Tops Supermarket anchored shopping centers
Tonawanda, NY Cleeman Realty Group completed the $38.5 million portfolio sale of five Tops Supermarket anchored shopping centers in Hamlin, Arcade, Avon and Tonawanda. The properties were 93% occupied at the time of sale and included over 425,000 s/f of GLA leased to several national, regional and local tenants.
Michael Cleeman and Sam Seelenfreund of Cleeman Realty Group represented the buyer and Cushman & Wakefield, and Pyramid Brokerage Company represented the seller in this transaction.
“The buyer was attracted to the strong-performing grocery anchor that has a long operating history in this market and is well-poised for future growth after the successful Tops/Price Chopper merger that closed a few months ago” said Seelenfreund.
Cleeman Realty Group also completed the following transactions:
- The $9 million off-market sale of a single tenant Tops Supermarket in Tonawanda. The grocery store is located in the Youngmann Tops Plaza which includes a strong lineup of national tenants including Big Lots, Rent-A-Center and Family Dollar. The property consists of 51,000 s/f that is net leased to Tops Supermarket. Seelenfreund acted for the buyer and seller.
- The $4.175 million off-market sale of Tops Plaza in Corning. The property was 88% occupied at the time of sale and included over 60,456 s/f of GLA leased to national, regional and local tenants. The shopping center was remodeled in 2014 and includes a Tops Supermarket and fuel station.Seelenfreund represented the buyer.
- The $3.2 million off-market sale of South Plaza in Norwich. The 141,402 s/f shopping center was 56% occupied at the time of closing and features a strong lineup of national tenants including Tractor Supply Co., Dollar General, and Aaron’s. The property sits on 34.22-acres off NYS Rte. 12. Seelenfreund and Jeremy Scheer of Cleeman represented the buyer and Dominic Pavia of Pavia Real Estate represented the seller.
Tags:
Brokerage
Western NY
MORE FROM Brokerage
CM&B completes Activate Games’ NYC debut in Union Square
Manhattan, NY Construction Management and Builders, Inc. (CM&B) has completed construction of Activate Games’ first US flagship store in New York City, transforming a historic Union Square retail destination into a 15,000 s/f active gaming experience where players become part of the game.
 (2).gif)
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
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
.gif)
August Promotion
