Jungreis and Guttman of Rosewood Realty broker $2.6 million sale of strip mall

Rosewood Realty Group has brokered the $2.6 million sale of 13 stores located in a 16,000 s/f strip mall on East Boston Post Rd. The four-building parcel at 587-621 East Post Rd., includes a 20-car parking lot, an Edible Arrangement store, dry cleaner, nail salon, restaurant, pizza shop, clothing shop and other local retail establishments. The buyer was The Morgan Group, LLC and the seller was Mamaroneck Properties, Inc., which owned all four buildings. Aaron Jungreis and Michael Guttman of Rosewood represented both the seller and the buyer in the late summer deal. The CAP rate was 8%. "This retail property in the heart of Mamaroneck is a busy strip mall with lots of community and leisure traffic with dedicated parking for customers," said Guttman. "The sale was a win-win for all involved." Rosewood Realty, a commercial brokerage firm founded in 2007 by Aaron Jungreis and David Berger, specializes in multi-family and office buildings, with activity focused in New York, New Jersey, Connecticut and Florida.