{"id":1004188916,"date":"2017-08-30T05:09:24","date_gmt":"2017-08-30T13:09:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004188916"},"modified":"2017-08-30T05:09:24","modified_gmt":"2017-08-30T13:09:24","slug":"brixmor-sells-buffalo-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/brixmor-sells-buffalo-shopping-center\/","title":{"rendered":"Brixmor Sells Buffalo Shopping Center"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004188924\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Webp.net-resizeimage3.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004188924\" data-attachment-id=\"1004188924\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/brixmor-sells-buffalo-shopping-center\/webp-net-resizeimage-30\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Webp.net-resizeimage3.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" 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=\"McKinley Plaza, Buffalo, N.Y.\" data-image-description=\"&lt;p&gt;McKinley Plaza, Buffalo, N.Y.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;McKinley Plaza, Buffalo, N.Y.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Webp.net-resizeimage3.jpg?w=800\" class=\"wp-image-1004188924 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Webp.net-resizeimage3.jpg\" alt=\"McKinley Plaza, Buffalo, N.Y.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Webp.net-resizeimage3.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Webp.net-resizeimage3.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Webp.net-resizeimage3.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004188924\" class=\"wp-caption-text\">McKinley Plaza, Buffalo, N.Y.<\/p><\/div>\n<p>An entity affiliated with Brixmor Property Group Inc. has sold McKinley Plaza, a 95,544-square-foot shopping center in Buffalo, N.Y. The buyer was a private real estate investment firm and the deal was brokered by Cushman &amp; Wakefield.<\/p>\n<h2>High occupancy<\/h2>\n<p>The property is located at 3760 McKinley Pkwy.,\u00a0in the most sought-after retail corridor of the Buffalo-Niagara Falls area, which comprises more than 2.3 million square feet of retail space. The asset is situated across from\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/dlc-makes-its-biggest-buy-ever-with-retail-portfolio\/\">McKinley Mall<\/a> and offers direct access to major roads such as Interstate 90 and Route 119.\u00a0Built in 1991 and renovated in 2015, the center features 503 parking spaces. Additionally, it is 98 percent leased to 12 tenants, with anchors including\u00a0T.J. Maxx and A.C. Moore Arts &amp; Crafts.<\/p>\n<p>Cushman &amp; Wakefield\u2019s\u00a0Metropolitan Area Capital Markets Group Executive Director Brian Whitmer, Vice Chairman Andrew Merin, Director Seth Pollack and Kubby Tischler represented both parties in the transaction. They worked closely with Pyramid Brokerage Co.\u2019s Joyce MacKnight and Ben Borruso.<\/p>\n<p>\u00a0\u201c<em>The climate for retail investing is finding its footing, and this sale provided clarity that there remains aggressive bidding for high-quality, well-leased and located shopping centers,<\/em>\u201d Whitmer said in a prepared statement. \u201c<em>It was encouraging to see such a high level of investor interest, which was the result of confidence in the long-term leasing viability of the asset, as well as the positive trends in the Buffalo South <\/em>submarket<em>.<\/em>\u201d<\/p>\n<p>The property previously changed hands in 2005 for $12.7 million, PropertyShark data shows.<\/p>\n<p><em>Image courtesy of Cushman &amp; Wakefield<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a deal brokered by Cushman &#038; Wakefield, an affiliate of Brixmor Property Group sold a 95,544-square-foot retail center in Buffalo, N.Y. At the time of the sale, McKinley Plaza was 98 percent occupied. <\/p>\n","protected":false},"author":241,"featured_media":1004188924,"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":[34343,34896,34053],"class_list":["post-1004188916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-new-york","category-latest","category-northeast","category-retail","tag-brixmor-property-group-inc","tag-cushman-wakefield","tag-pyramid-brokerage-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Brixmor Sells Buffalo Shopping 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\/brixmor-sells-buffalo-shopping-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brixmor Sells Buffalo Shopping Center\" \/>\n<meta property=\"og:description\" content=\"In a deal brokered by Cushman &amp; Wakefield, an affiliate of Brixmor Property Group sold a 95,544-square-foot retail center in Buffalo, N.Y. 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