CBRE’s National Retail Partners, consisting of Jeffrey Dunne, David Gavin and Travis Langer, successfully represented EFG/Saber Heritage SC LLC in the sale of Hudson Heritage for $34 million. The buyer was procured by CBRE as well and is East Coast Acquisitions based in Tampa, FL.
Hudson Heritage is a newly developed center with 120,499 square feet anchored by ShopRite. Currently at 92% occupancy rate with high-credit tenants such as CVS, Starbucks and Chipotle among others. Located across from Marist College providing a built-in consumer base.
According to Dunne “The center’s strong tenant mix along with its long-term leases make it an attractive investment opportunity.” Gavin added that there continues to be high demand for properties like Hudson Heritage in the Metro NY area due to their stable income potential and prime location within affluent markets.
In addition to its current success factors , future residential development near the center will only further enhance foot traffic and increase tenant sales. This recent transaction highlights the continued strength of grocery-anchored centers in desirable locations like Poughkeepsie.
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