CBRE’s National Retail Partners, led by Jeffrey Dunne, David Gavin and Travis Langer, successfully represented United Hampshire US REIT in the sale of Lowe’s and Sam’s Club at Kingston Center for $36.5 million. The purchaser was an institutional buyer procured by CBRE.
The two retail stores are located within Hudson Valley Plaza, a large regional power center spanning 673,000 square feet. This prime location is anchored by popular retailers such as Walmart and PetSmart. It is conveniently situated at the intersection of Rt. 199/209 and 9W with easy access to the New York State Thruway.
Lowe’s and Sam’s Club provide stable income through net leases that have been in place since 1996. Lowe’s recently renewed their lease for another long-term period of 15 years while Sam’s Club has exercised multiple options to renew their lease at this center.
This transaction showcases CBRE’s expertise in securing top-notch buyers for high-quality properties like Lowe’s and Sam’s Club within a thriving retail hub like Kingston Center.
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