Marcus & Millichap Arranges The Sale Of A 9,181-Square Foot Retail Property in Scarsdale, NY
Scarsdale, NY, January 12, 2022 --Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Balducci's Plaza - a 9,181-square foot retail property located in Scarsdale, NY, according to Susan Bands, regional manager of the firm's Westchester office. The asset sold for $7,850,000.
Kodi Traver and Joseph French Jr., investment specialists in Marcus & Millichap's Westchester office, had the exclusive listing to market the property on behalf of the seller, Heathcote Corners II. The buyer, Great Eastern Limited Partnership, was secured and represented by Joseph French Jr. and Schuyler Boylan, investment specialists in Marcus & Millichap's Westchester office.
Traver comments, "This was a rare trophy retail property located in the heart of prestigious Five Corners of Scarsdale, NY. It is a 100% occupied retail property shadow anchored by top producing Balducci's grocery. We identified a qualified buyer who appreciated owning this trophy asset and brought the deal to a successful closing."
Balducci's Plaza is located at 1 Palmer Ave in Scarsdale, NY. The property serves as an idyllic 1031 exchange opportunity.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.