The landlord, AVR Realty of Yonkers, was represented in-house byNorman Lesman. Gary Mayzlin of Brooklyn-based Kalmon DolginAffiliates arranged the long-term lease on behalf of the tenant,Net Cost Market, which currently operates four supermarkets inBrooklyn and another in Philadelphia.
A source close to the deal tells GlobeSt.com that asking rentalsat 3155 Amboy Rd. is $25 per sf. The asking yearly value isapproximately $300,000 per year and the lease is for 20 years, thesource explains.
"Retail availability is limited in the area," Mayzlin tellsGlobeSt.com. "This Amboy Road location is part of a larger80,000-sf shopping center centrally-located in a beautiful,middle-class neighborhood containing many single and two-familyhomes."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.