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Posted: April 27, 2015
Horvath, Tremblay and Black of Marcus & Millichap secure $5.6 million; Represents seller, Cooperstown Commons Associates / buyer, Cedar Grove Realty
Bob Horvath, vice president of investments, Todd Tremblay, vice president of investments, and Jeremy Black, investment associate of Marcus & Millichap Real Estate Investment Services, one of the nation's largest real estate investment services firms, brokered the transaction of Cooperstown Commons.
Cooperstown Commons, a 59,066 s/f regional grocery anchored shopping center, is located on Commons Dr. Built in November of 1993, Cooperstown Commons is the dominant retail center in the town and has a diverse tenant mix servicing the local and regional community. Tenants in the center include: TOPS Market, Family Dollar, Subway, China Wok, Short Cuts, J&J Liquor, Jive Coffee Shop, and First Community Care of Bassett. Also included in the sale was a free standing McDonald's and NBT Bank located on pads sites in the retail center. As a commitment to this location, TOPS Market recently extended their lease through December, 2024. In addition, a number of the tenants have rental escalations scheduled in the upcoming year. Cooperstown Commons closed at a sale price of $5.6 million. Horvath, Tremblay and Black exclusively represented the seller, Cooperstown Commons Associates, LP and the buyer, Cedar Grove Realty Partners, LLC.
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