Rockland County Shopping Center Trades for Nearly $27 Million
Real Estate In-Depth | July 12, 2022
HAVERSTRAW—An affiliate of Spring Valley-based Northeast Capital Group has acquired Samsondale Plaza, a 156,185-square-foot shopping center in Haverstraw, for $26.5 million.
JLL Capital Markets marketed the property on behalf of the seller, a joint venture between Mark Holdings LLC and Paragon Realty Group LLC. The buyer is an affiliate of Northeast Capital Group.
Samsondale Plaza is located at 45 South Route 9W and is anchored by Stop & Shop. Other major tenants at the 91% leased center include the New York State Department of Motor Vehicles, Dollar Tree, Advance Auto, Sports Clips, Sally Beauty Supply and Mandee.
The JLL Capital Markets team representing the seller was led by Jose Cruz, J.B. Bruno, Steve Simonelli, Michael Oliver, Kevin O’Hearn and Austin Pierce, along with Andrew Scandalios.
“Well-located grocery-anchored retail with upside in the rent roll continues to be in high demand today as investors look to increase their retail holdings,” Cruz said. “Samsondale provides a great current yield with a stable tenant base and future appreciation.”