Webster, NY Jeremy Black, Bob Horvath, and Todd Tremblay of Horvath & Tremblay have completed the sale of Webster Plaza. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $18,593,750.
Webster Plaza is located at 980 Ridge Rd. The 154,991 s/f shopping center consists of a 139,148 s/f inline strip center anchored by Savers, the town of Webster (public library), and Pet Supplies Plus, a 5,970 s/f inline strip center leased to Starbucks, Subway, Fed-Ex and Yolickity, and three free-standing single tenant buildings leased to KeyBank (corporate lease), Bank of America (corporate lease), and Burger King (Carrols Corp).
Webster Plaza also offers a value-add component through the lease-up of the existing vacant space and the ability to develop two additional pad sites, further enhancing the cash flow and value of the property. The majority of the tenants have scheduled rent increases throughout their primary lease terms, as well as at the start of their option periods.
Webster Plaza is located at the signalized intersection of Ridge Rd. (NY Rte. 404) and Hard Rd., and benefits from visibility, signage, and frontage with five points of access. Webster Plaza is located in the area’s primary commercial corridor and is surrounded by numerous businesses including Xerox’s five million s/f campus, national retailers, two area high schools, apartment communities, residential neighborhoods, and several government facilities.
The location also offers access to the Irondequoit – Wayne County Expwy., which provides direct access to downtown Rochester.
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