Spencerport Village Plaza Changes Hands

SPENCERPORT, NY—The 107,065-square-foot Spencerport Village Plaza retail property here has changed hands.

The sale of the property in the suburb of Rochester was announced by J.D. Parker, regional manager of Marcus & Millichap's Westchester County office in White Plains. Joseph French and Thomas Dalzell, investment specialists in Marcus & Millichap's Westchester office along with Mike James and Nathan Barnes of Marcus & Millichap's Encino, CA office had the exclusive listing to market the property on behalf of the seller, a private investor.

The buyer, a West Coast-based private institution, acquired the property at 27 Slayton Ave. for $8,816,668. The unnamed buyer was also secured and represented by French, Dalzell, James and Barnes.

“This collaboration between Marcus & Millichap's Westchester and Encino offices facilitated the national exposure of this asset allowing us to tap into a vast pool of qualified buyers,” says Dalzell. “Ultimately, the purchasing entity was based out of the west coast. Our partners from the Encino office proved to be an invaluable resource.”

“Seller was able to take advantage of the robust market and elevated demand for grocery anchored centers,” adds French, “These conditions allowed the seller to capture equity, in turn he was able focus his attention on his core business. The New York market offered our buyer the opportunity to close with a higher yield than what could be achieved in their local market.”