Watertown, NY Institutional Property Advisors (IPA), a division of Marcus & Millichap, sold The Plaza at Salmon Run, a 68,761 s/f grocery-anchored retail plaza.
“Located in one of Upstate New York’s dominant regional shopping areas, The Plaza at Salmon Run is close to Fort Drum, a U.S. Army’s military reservation that is Watertown’s largest employer,” said IPA’s James Koury. “Anchor tenant Hannaford has operated in the center for 30 years, occupies 76% of the center’s total gross leasable area, and recently extended its base lease term to May 2028.”
IPA represented the seller and procured the buyer.
The Plaza at Salmon Run is visible from I-81 at its intersection with State Rte. 3/Arsenal St. Shadow-anchored by national retailers including Lowe’s, Target, Sam’s Club and Walmart, the property shares a signalized light with the entrance of the Salmon Run Mall. Tenants residing at The Plaza at Salmon Run include a Red Robin restaurant, boating specialist West Marine, and the Zoom Tan tanning salon.
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