Scandalios, Cruz, Julien and O'Hearn complete sale of mixed-use Scarsdale property

HFF has closed the sale of 7 and 17 Popham Rd., a two-building, 38,510 s/f retail, medical and upscale recreational-use property. The sales price was not disclosed. HFF marketed the property on behalf of the jointly-controlled sellers, F&R Popham, LLC and F&R Constitution LLC. L&B Realty Advisors purchased the offering. 7 and 17 Popham Rd. are located adjacent to the Scarsdale Metro North train station in Scarsdale's six block business district about 20 miles north of New York City. Completed in 2006, 7 Popham Rd. has 28,864 s/fof rentable space atop a 10,559 s/f parking garage. 17 Popham Rd., originally built in 1932, has 9,646 square feet. Tenants at the fully leased properties include CVS, Webster Bank and Dunkin Donuts. The HFF investment sales team representing the sellers was led by senior managing directors and Andrew Scandalios and Jose Cruz, and managing directors Jeffrey Julien and Kevin O'Hearn. "The buyer really did a great job of underwriting the value in the property and performed exceptionally well," said Cruz. "The seller did a great job in building a quality property that the demand during marketing was extensive." "Retail properties located in exclusive communities like Scarsdale with frontage at the train station are rare and highly desirable to investors," said Julien. L&B Realty Advisors is an employee-owned, SEC-registered real estate investment advisor. Since 1965, L&B has provided real estate investment management services to institutional investors and family offices. With $5.4 billion under management and 46 years of experience, L&B has a proven track record of successfully acquiring, managing, and disposing real estate on behalf of its clients. Holliday Fenoglio Fowler, LP ("HFF") and HFF Securities LP ("HFFS") are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, equity placement, loan sales, and commercial loan servicing. www.hfflp.com.