Institutional Property Advisors Closes Sale of Price Chopper Plaza in Binghamton
September 11, 2024
BINGHAMTON, N.Y., Sept. 11, 2024– Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced the sale of Price Chopper Plaza, a 127,000-square-foot community shopping center serving the university town of Binghamton, New York for $14 million.
Price Chopper is the region's dominant grocer and has been operating in the center since 1987. According to IPA's James Koury, who headed the transaction, “The center plays an important role providing goods and services to the 20,000 students and faculty of SUNY Binghamton, a major state research university located just two miles away.” Koury exclusively represented the seller and procured the buyer. John Horowitz is Marcus & Millichap’s broker of record in New York.
The center was 97% occupied at the time of sale, with tenants including Planet Fitness, Big Lots, and Dollar Tree.
Price Chopper is the region's dominant grocer and has been operating in the center since 1987. According to IPA's James Koury, who headed the transaction, “The center plays an important role providing goods and services to the 20,000 students and faculty of SUNY Binghamton, a major state research university located just two miles away.” Koury exclusively represented the seller and procured the buyer. John Horowitz is Marcus & Millichap’s broker of record in New York.
The center was 97% occupied at the time of sale, with tenants including Planet Fitness, Big Lots, and Dollar Tree.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.