Institutional Property Advisors Closes $26.9 Million Sale of Grocery-Anchored Shopping Center in Latham New York
February 12, 2025
LATHAM, N.Y., Feb. 12, 2025 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of a 120,049-square-foot Fresh Market-anchored shopping center in Latham, New York. The property sold for $26.87 million.
“The grocery-anchored center, tenanted by a Fresh Market, Petco and Crumbl Cookies, is positioned among the nation’s top retailers in the upscale town of Latham,” said Jim Koury, IPA senior managing director. He added that: “Approximately 24,000 square feet is available for the new owner to reposition the center’s tenancy.” Koury represented the seller, Shaker Louden Associates and procured the buyer, PCP Binghamton Associates LLC.
Built in 2010, the center is located at the signalized intersection of U.S. Route 9 and New York State Route 155, near Interstate 87. Nearby retailers include Sam’s Club, Home Depot, Lowes, Target, Walmart, Dicks, Hannaford, Market 32, TJ Maxx, and Hobby Lobby. Within a three-mile radius, the average annual household income is over $116,700 and within five miles, the population is over 182,700.
“The grocery-anchored center, tenanted by a Fresh Market, Petco and Crumbl Cookies, is positioned among the nation’s top retailers in the upscale town of Latham,” said Jim Koury, IPA senior managing director. He added that: “Approximately 24,000 square feet is available for the new owner to reposition the center’s tenancy.” Koury represented the seller, Shaker Louden Associates and procured the buyer, PCP Binghamton Associates LLC.
Built in 2010, the center is located at the signalized intersection of U.S. Route 9 and New York State Route 155, near Interstate 87. Nearby retailers include Sam’s Club, Home Depot, Lowes, Target, Walmart, Dicks, Hannaford, Market 32, TJ Maxx, and Hobby Lobby. Within a three-mile radius, the average annual household income is over $116,700 and within five miles, the population is over 182,700.
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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.