News:
Brokerage
Posted: May 16, 2023
Cushman & Wakefield arranges sale of two retail centers, BJ’s Plaza and McKinley Milestrip - 416,544 s/f
Hamburg, NY Cushman & Wakefield arranged the sale of BJ’s Plaza and McKinley Milestrip Center, two retail centers totaling 416,544 s/f located adjacent to each other at 4408 and 4405 Milestrip Rd.
Cushman & Wakefield’s Gary Gabriel, David Bernhaut, Brian Whitmer, Frank DiTommaso and Max Helfman, in conjunction with Pyramid Brokerage Company’s Ben Borruso, represented the seller, a joint venture of DRA Advisors and DLC Management Corp., in the transaction. The properties were acquired by NYC-based Northpath Investments.
“BJ’s Plaza and McKinley Milestrip are prime shopping centers that are well-positioned within Southern Buffalo’s major retail hub,” said DiTommaso. “Both properties feature strong national anchor tenants supporting Northpath’s investment by providing durable cash flow in a growing market.”
4408 Milestrip Rd. is a 176,045 s/f shopping center anchored by BJ’s Wholesale Club. The asset is fully leased to 10 tenants.
4405 Milestrip Rd. is a 240,499 s/f shopping center anchored by Home Depot. It is 94% leased to 20 tenants.
The properties are located at the intersection of Milestrip Rd. and McKinley Pkwy. near to I-90.
Tags:
Brokerage
MORE FROM Brokerage
Delisle and Monahan of Island Associates lease 45,000 s/f to Giunta’s Meat Farms at Strathmore Commons
Middle Island, NY Roger Delisle and Robert Monahan of Island Associates negotiated the lease for the Giunta’s Meat Farms to occupy 45,000 s/f at Strathmore Commons.
.jpg)
Quick Hits
.gif)
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
.gif)