{"id":1004168213,"date":"2017-03-03T07:14:35","date_gmt":"2017-03-03T15:14:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004168213"},"modified":"2022-12-06T03:04:35","modified_gmt":"2022-12-06T11:04:35","slug":"albany-area-retail-center-trades-for-15m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/","title":{"rendered":"Albany-Area Retail Center Trades for $15M"},"content":{"rendered":"

By Mihaela Coste<\/em><\/p>\n

\"Columbia<\/a>

Columbia Plaza<\/p><\/div>\n

Albany, N.Y.<\/strong>\u2014HFF recently closed the sale of Columbia Plaza, a 137,647-square-foot retail center located in the Albany-area community of East Greenbush, N.Y. Nigro Co. acquired the asset free and clear of existing debt from a partnership between Capstone Realty Group and WP Realty for the price tag of $15.1 million.<\/p>\n

HFF’s senior managing directors Jose Cruz and Andrew Scandalios, Managing Director\u00a0Michael Oliver and Director\u00a0Stephen Simmonelli led the investment sales team on behalf of the seller.<\/p>\n

Situated on a 14.6-acre site at 501 Columbia Turnpike, Columbia Plaza is 3.5 miles southeast of Albany, one of the fastest growing areas in the state of New York. The three-building center completed in 1988 offers convenient access to Columbia Turnpike, which is easily accessible from interstates 8, 787 and 90.<\/p>\n

At the time of the transaction, the asset was 89.3 percent leased, the tenant roster includes Price Chopper, Peebles, Dollar Tree, Pet Stop, Vineyard Wine & Spirit,\u00a0and more.<\/p>\n

The new owner plans to invest more than $21 million in renovations, including converting Price Chopper into the Market 32 brand,\u00a0according to Albany Business Journal<\/a>.\u00a0<\/em>The shopping plaza will be upgraded with a new facade and parking lots. Renovations are expected to commence in spring.<\/p>\n

\u201cThe sale of this property completes our value-add strategy of turning around properties in great locations in need of capital,\u201d said Rob Friedberg, managing partner of Capstone Realty Group, in prepared remarks.<\/p>\n

Image via\u00a0Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The new owner plans to invest more than $21 million in renovations.<\/p>\n","protected":false},"author":1192,"featured_media":1004168226,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,10,21749],"tags":[32792,34252],"class_list":["post-1004168213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-northeast","category-retail","tag-hff","tag-wp-realty"],"acf":[],"yoast_head":"\nAlbany-Area Retail Center Trades for $15M - 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\/albany-area-retail-center-trades-for-15m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Albany-Area Retail Center Trades for $15M\" \/>\n<meta property=\"og:description\" content=\"The new owner plans to invest more than $21 million in renovations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/\" \/>\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=\"2017-03-03T15:14:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T11:04:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Columbia-Plaza-Image-via-Google-Maps.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"803\" \/>\n\t<meta property=\"og:image:height\" content=\"465\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mihaela Coste\" \/>\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\\\/albany-area-retail-center-trades-for-15m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/albany-area-retail-center-trades-for-15m\\\/\"},\"author\":{\"name\":\"Mihaela Coste\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/84db22c1406ebbb161906ccf4f43d508\"},\"headline\":\"Albany-Area Retail Center Trades for $15M\",\"datePublished\":\"2017-03-03T15:14:35+00:00\",\"dateModified\":\"2022-12-06T11:04:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/albany-area-retail-center-trades-for-15m\\\/\"},\"wordCount\":252,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/albany-area-retail-center-trades-for-15m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/03\\\/Columbia-Plaza-Image-via-Google-Maps.jpg\",\"keywords\":[\"HFF\",\"WP Realty\"],\"articleSection\":[\"Deals\",\"Investment\",\"News\",\"Northeast\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/albany-area-retail-center-trades-for-15m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/albany-area-retail-center-trades-for-15m\\\/\",\"name\":\"Albany-Area Retail Center Trades for $15M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/albany-area-retail-center-trades-for-15m\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/albany-area-retail-center-trades-for-15m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/03\\\/Columbia-Plaza-Image-via-Google-Maps.jpg\",\"datePublished\":\"2017-03-03T15:14:35+00:00\",\"dateModified\":\"2022-12-06T11:04:35+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/84db22c1406ebbb161906ccf4f43d508\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/albany-area-retail-center-trades-for-15m\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/albany-area-retail-center-trades-for-15m\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/albany-area-retail-center-trades-for-15m\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/03\\\/Columbia-Plaza-Image-via-Google-Maps.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/03\\\/Columbia-Plaza-Image-via-Google-Maps.jpg\",\"width\":803,\"height\":465,\"caption\":\"Columbia Plaza\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/albany-area-retail-center-trades-for-15m\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Albany-Area Retail Center Trades for $15M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/84db22c1406ebbb161906ccf4f43d508\",\"name\":\"Mihaela Coste\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ae4c2841244c212655757982ab596ad3ca7eccb7b9eccb81e85b6111dd567b78?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ae4c2841244c212655757982ab596ad3ca7eccb7b9eccb81e85b6111dd567b78?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ae4c2841244c212655757982ab596ad3ca7eccb7b9eccb81e85b6111dd567b78?s=96&d=mm&r=g\",\"caption\":\"Mihaela Coste\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/mihaelacoste\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Albany-Area Retail Center Trades for $15M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/","og_locale":"en_US","og_type":"article","og_title":"Albany-Area Retail Center Trades for $15M","og_description":"The new owner plans to invest more than $21 million in renovations.","og_url":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-03-03T15:14:35+00:00","article_modified_time":"2022-12-06T11:04:35+00:00","og_image":[{"width":803,"height":465,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Columbia-Plaza-Image-via-Google-Maps.jpg","type":"image\/jpeg"}],"author":"Mihaela Coste","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/"},"author":{"name":"Mihaela Coste","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/84db22c1406ebbb161906ccf4f43d508"},"headline":"Albany-Area Retail Center Trades for $15M","datePublished":"2017-03-03T15:14:35+00:00","dateModified":"2022-12-06T11:04:35+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/"},"wordCount":252,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Columbia-Plaza-Image-via-Google-Maps.jpg","keywords":["HFF","WP Realty"],"articleSection":["Deals","Investment","News","Northeast","Retail"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/","url":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/","name":"Albany-Area Retail Center Trades for $15M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Columbia-Plaza-Image-via-Google-Maps.jpg","datePublished":"2017-03-03T15:14:35+00:00","dateModified":"2022-12-06T11:04:35+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/84db22c1406ebbb161906ccf4f43d508"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Columbia-Plaza-Image-via-Google-Maps.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Columbia-Plaza-Image-via-Google-Maps.jpg","width":803,"height":465,"caption":"Columbia Plaza"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/albany-area-retail-center-trades-for-15m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Albany-Area Retail Center Trades for $15M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/84db22c1406ebbb161906ccf4f43d508","name":"Mihaela Coste","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/ae4c2841244c212655757982ab596ad3ca7eccb7b9eccb81e85b6111dd567b78?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/ae4c2841244c212655757982ab596ad3ca7eccb7b9eccb81e85b6111dd567b78?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ae4c2841244c212655757982ab596ad3ca7eccb7b9eccb81e85b6111dd567b78?s=96&d=mm&r=g","caption":"Mihaela Coste"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/mihaelacoste\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Columbia-Plaza-Image-via-Google-Maps.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004168213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1192"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004168213"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004168213\/revisions"}],"predecessor-version":[{"id":1004627862,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004168213\/revisions\/1004627862"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004168226"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004168213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004168213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004168213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}