Marcus & Millichap brokers $5.3 million sale of Tops Plaza at Seneca Falls

Waterloo, NY Marcus & Millichap brokered the $5.3 million sale of Tops Plaza at Seneca Falls, a grocery-anchored retail center.

“We secured a qualified buyer who closed all-cash without financing, providing the seller with certainty of execution,” said Joseph French in Marcus & Millichap’s Westchester office.

French and Kodi Traver of Marcus & Millichap exclusively marketed the property on behalf of the seller, a private company based in Syracuse and procured the buyer, a private investor from Franklin Lakes, N.J.

Located at 1963 U.S. 20, Tops Plaza is a 12-unit, 122,799 s/f shopping center on 34 acres. Built in 1960, the center was 99% leased at the time of sale to a mix of restaurants, service providers and retailers, including Tops Market and AutoZone. The property includes a bank outparcel, land for an additional outparcel building and several pad-site development opportunities.

Tops also has a ground lease in place with an accepted site plan to construct and operate a gasoline filling station.

Tops Plaza sits at a high-traffic intersection along U.S. Route 20 in a regional retail corridor between Waterloo and Seneca Falls. It is near del Lago Resort & Casino, Finger Lakes Premium Outlets, Cayuga Lake State Park and Geneva General Hospital.

Tags: Brokerage Central NY Retail

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