News:
Brokerage
Posted: July 12, 2022
French, Traver, and Dalzell of Marcus & Millichap broker $18.25 million sale of Western Lights Shopping Center
Syracuse, NY Marcus & Millichap completed the sale of Western Lights Shopping Center, a 250,193 s/f retail property, according to John Horowitz, first VP/division manager of the firm’s Westchester office.
The asset sold for $18.25 million.
Joseph French Jr., Kodi Traver, and Thomas Dalzell, investment specialists in Marcus & Millichap’s Westchester office, had the exclusive listing to market the property on behalf of the seller, a private investor. The team also secured the buyer.
French said, “Due to our in-depth knowledge, perseverance, and aggressive marketing, we were able to far surpass our seller’s expectation by bringing this deal to a successful closing at the price that exceeded the market.”
Western Lights Shopping Center is located at 4713 Onondaga Blvd. The site holds a tenant mix of Price Chopper, Valu Home Center, NYS DMV, Dollar Tree, Rainbow Shops, Mavis Discount Tire, Supercuts, and Subway.
Tags:
Brokerage
MORE FROM Brokerage
Adler of Rand Commercial brokers $2.3 million sale of retail assemblage in Yonkers
Yonkers, NY Rand Commercial negotiated the June 12, 2026 sale of an 11,000 s/f retail assemblage at 245, 247, 251, and 253 South Bdwy. for $2.3 million to an owner-user.
Quick Hits
Columns and Thought Leadership
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,
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
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
