News:
Brokerage
Posted: February 14, 2023
IPA brokers sale of The Plaza at Salmon Run - 68,761 s/f
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.
Tags:
Brokerage
MORE FROM Brokerage
SoHo emerges as America’s most active trophy retail market as investors prioritize quality, Adirondack Capital Partners finds
Manhattan, NY Investors are increasingly concentrating capital in the country’s most coveted retail corridors, with SoHo emerging as the nation’s most active trophy retail market,
Quick Hits
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
