Koury of Institutional Property Advisors closes $14 million sale of 127,000 s/f Price Chopper Plaza

Binghamton, NY Institutional Property Advisors (IPA) negotiated the sale of Price Chopper Plaza, a 127,000 s/f community shopping center for $14 million.

Price Chopper is one of the region’s dominant grocers and has been operating in the center since 1987. According to IPA’s James Koury, who headed the transaction, “The center plays an important role providing goods and services to the 20,000 students and faculty of SUNY Binghamton, a major state research university located just two miles away.”

Koury exclusively represented the seller and procured the buyer. John Horowitz is Marcus & Millichap’s broker of record in New York.

The center was 97% occupied at the time of sale, with tenants including Planet Fitness, Big Lots, and Dollar Tree.

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