Cleeman Realty facilitates sale of net lease Price Rite property

Buffalo, NY Cleeman Realty Group sold a Price Rite property at 1716 Kenmore Ave. The 40,830 s/f retail property, situated on 3.25 acres, is fully leased to Price Rite Marketplace. The property is located in a densely populated retail corridor of the city.

Michael Cleeman and Sam Seelenfreund of Cleeman Realty Group represented both the seller and the buyer in this off-market transaction. The purchaser was drawn to the property’s long-term lease and minimal landlord responsibilities, making it an attractive addition to their investment portfolio. Meanwhile, the seller, looking to pivot toward other projects within their portfolio, capitalized on the property’s strong market appeal and strategic positioning.

“This transaction highlights the ongoing demand for well-located, net-leased grocery properties,” said Cleeman, principal at Cleeman Realty Group. “The Price Rite property in Joplin stands out as a valuable investment opportunity due to its stable tenancy, robust consumer traffic, and alignment with other top-tier grocery operators in the market.”