{"id":1004154128,"date":"2016-10-03T04:22:13","date_gmt":"2016-10-03T12:22:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004154128"},"modified":"2021-05-15T06:57:41","modified_gmt":"2021-05-15T14:57:41","slug":"jv-spends-30m-on-shoprite-in-long-island","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-spends-30m-on-shoprite-in-long-island\/","title":{"rendered":"JV Spends $30M on Long Island Retail Center"},"content":{"rendered":"<p><i>By Carmen <\/i><i>Horghidan<\/i><\/p>\n<div id=\"attachment_1004154130\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/ShopRite-at-Bay-Shore-N.Y..png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004154130\" data-attachment-id=\"1004154130\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jv-spends-30m-on-shoprite-in-long-island\/shoprite-at-bay-shore-n-y\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/ShopRite-at-Bay-Shore-N.Y..png\" data-orig-size=\"1456,864\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"ShopRite at Bay Shore, N.Y.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;ShopRite at Bay Shore, N.Y.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/ShopRite-at-Bay-Shore-N.Y..png?w=1024\" loading=\"lazy\" class=\"wp-image-1004154130 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/ShopRite-at-Bay-Shore-N.Y..png\" alt=\"ShopRite at Bay Shore, N.Y.\" width=\"300\" height=\"178\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/ShopRite-at-Bay-Shore-N.Y..png 1456w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/ShopRite-at-Bay-Shore-N.Y..png?resize=300,178 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/ShopRite-at-Bay-Shore-N.Y..png?resize=768,456 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/ShopRite-at-Bay-Shore-N.Y..png?resize=1024,608 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004154130\" class=\"wp-caption-text\">ShopRite at Bay Shore, N.Y.<\/p><\/div>\n<p><b>Bay Shore, N.Y.<\/b>\u2014<span style=\"font-family: 'Georgia',serif;color: #333333\"><a href=\"https:\/\/www.hfflp.com\/\" target=\"_blank\" rel=\"nofollow noopener\">HFF<\/a><span class=\"apple-converted-space\">\u00a0<\/span>recently closed the sale of ShopRite at Bay Shore in Long Island. The 60,000-square-foot retail property was sold\u00a0by <a href=\"https:\/\/www.gsinvestors.com\/\" target=\"_blank\" rel=\"nofollow noopener\">G&amp;S Investors<\/a> of New York City for $30 million.<\/span><\/p>\n<p>The HFF investment team representing the seller was led by Managing Director Jeffrey Julien and Senior Managing Director Jose Cruz. The buyer, a joint venture partnership between <a href=\"https:\/\/www.mattonegroup.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Mattone Group LLC<\/a> and Gartenstein Properties, acquired the asset free and clear of existing debt.<\/p>\n<p><span style=\"font-family: 'Georgia',serif;color: #333333\">The single-tenant <a href=\"https:\/\/www.commercialsearch.com\/news\/retail\/\" target=\"_blank\" rel=\"noopener\">retail<\/a> grocery property is triple-net leased to ShopRite and\u00a0lies<\/span><span style=\"font-family: 'Georgia',serif;color: #333333\">\u00a0on 10 acres\u00a0at 1905 Sunrise Highway,\u00a0an area with daily traffic counts of more than 80,000 vehicles. National tenants such as The Home Depot, Pier 1 Imports, Best Buy, Petco and Toys&#8221;R&#8221;Us operate in the\u00a0area.<\/span><\/p>\n<p><i>Image via Google Maps<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The asset was acquired free and clear of existing debt, in a deal secured by HFF.<\/p>\n","protected":false},"author":1002,"featured_media":1004154130,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1600,21742,10,21749],"tags":[],"class_list":["post-1004154128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-new-york","category-latest","category-northeast","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JV Spends $30M on Long Island Retail Center - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jv-spends-30m-on-shoprite-in-long-island\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JV Spends $30M on Long Island Retail Center\" \/>\n<meta property=\"og:description\" content=\"The asset was acquired free and clear of existing debt, in a deal secured by HFF.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jv-spends-30m-on-shoprite-in-long-island\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-03T12:22:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T14:57:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/ShopRite-at-Bay-Shore-N.Y..png\" \/>\n\t<meta property=\"og:image:width\" content=\"1456\" \/>\n\t<meta property=\"og:image:height\" content=\"864\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Carmen Horghidan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-spends-30m-on-shoprite-in-long-island\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-spends-30m-on-shoprite-in-long-island\\\/\"},\"author\":{\"name\":\"Carmen Horghidan\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/91c8a7396e3c26801ff2a7858bdf6875\"},\"headline\":\"JV Spends $30M on Long Island Retail Center\",\"datePublished\":\"2016-10-03T12:22:13+00:00\",\"dateModified\":\"2021-05-15T14:57:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-spends-30m-on-shoprite-in-long-island\\\/\"},\"wordCount\":151,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-spends-30m-on-shoprite-in-long-island\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/10\\\/ShopRite-at-Bay-Shore-N.Y..png\",\"articleSection\":[\"Deals\",\"New York\",\"News\",\"Northeast\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-spends-30m-on-shoprite-in-long-island\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-spends-30m-on-shoprite-in-long-island\\\/\",\"name\":\"JV Spends $30M on Long Island Retail Center - 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