Jones Lang LaSalle Incorporated: Stop & Stop Anchored Mall Sells for $26.5M in Rockland County, NY
MORRISTOWN, NJ, July 11, 2022 –JLL Capital Markets today announced that it has completed the $26.5 million sale of Samsondale Plaza, a 156,185 square foot retail center anchored by Stop & Shop in the Rockland County community of West Haverstraw, New York.
JLL marketed the property on behalf of the seller, a joint venture between Mark Holdings LLC and Paragon Realty Group LLC. The buyer is a subsidiary 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, JB Bruno, Steve Simonelli, Michael Oliver, Kevin O’Hearn and Austin Pierce, as well as Andrew Scandalios.
“Well-located, grocery-anchored retail businesses with a rent premium continue to be in high demand today as investors look to increase their retail holdings,” Cruz said. “Samsondale offers excellent current performance with a stable tenant base and future appreciation.”
JLL Capital Markets is a global, full-service provider of capital solutions for property investors and occupiers. The firm’s in-depth knowledge of the local market and global investors provides the best solutions for clients – whether it’s sales and investment advice, debt advice, equity advice or recapitalization. The firm has more than 3,000 capital markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Inc. published this content on July 11, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on July 12, 2022 04:33:00 UTC.