Marcus & Millichap Arranges $20M New York ShopRite Sale
Marcus & Millichap has brokered the $19.5 million sale of a 60,896-square-foot retail property leased by ShopRite in Uniondale, N.Y. Barry Wolfe and Glen Kunofsky negotiated on behalf of the seller, Piermont Properties. Brad Nathanson sourced the buyer, a private investor, while Christopher Marks and Michael Helpern secured acquisition financing from a regional bank.
The asset last changed hands in 2009, when Piermont Properties acquired it from Northwestern Mutual for $1.9 million, Nassau County records show. The insurance company had owned the property since 2007, when Philips International Holdings provided a deed in lieu of foreclosure.