{"id":1004472382,"date":"2020-08-20T04:52:12","date_gmt":"2020-08-20T12:52:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004472382"},"modified":"2025-02-26T03:09:37","modified_gmt":"2025-02-26T11:09:37","slug":"marcus-millichap-arranges-20m-new-york-shoprite-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-arranges-20m-new-york-shoprite-sale\/","title":{"rendered":"Marcus & Millichap Arranges $20M New York ShopRite Sale"},"content":{"rendered":"
\"\"<\/a>

ShopRite. Image via Google Maps<\/i><\/p><\/div>\n

Marcus & Millichap has brokered the $19.5 million sale of a 60,896-square-foot retail property leased by ShopRite in Uniondale, N.Y. Barry Wolfe and Glen Kunofsky negotiated on behalf of the seller, Piermont Properties. Brad Nathanson sourced the buyer, a private investor, while Christopher Marks and Michael Helpern secured acquisition financing from a regional bank. <\/p>\n

The asset last changed hands in 2009, when Piermont Properties acquired it from Northwestern Mutual for $1.9 million, Nassau County records show. The insurance company had owned the property since 2007, when Philips International Holdings provided a deed in lieu of foreclosure.<\/p>\n

Located on 4 acres at 1121 Jerusalem Ave., the building was completed in 1996. ShopRite occupies the property under a long-term net lease, according to Nathanson. The store is adjacent to a 90,000-square-foot Walmart in a well-trafficked retail corridor. More than 300,000 cars pass through the area on a daily basis.<\/p>\n

In July, Marcus & Millichap completed the $13.4 million disposition<\/a> of Durango Town Center, a 41,781-square-foot retail asset in Durango, Colo. The firm represented the buyer, a private investor, and arranged the acquisition financing.<\/p>\n

If you\u2019d like to be featured in Brokers\u2019 Corner, simply fill in <\/em>our short form<\/em><\/strong><\/a> or send your deal to <\/em>deals@cpe-mhn.com<\/em><\/strong><\/a>.<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

The firm assisted the seller, sourced the buyer and facilitated acquisition financing for the nearly 61,000-square-foot Long Island property.<\/p>\n","protected":false},"author":867,"featured_media":1004365520,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1600,21742,10,21749],"tags":[50050,43445,34836,40426,37599],"class_list":["post-1004472382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-new-york","category-latest","category-northeast","category-retail","tag-barry-wolfe","tag-glen-kunofsky","tag-marcus-millichap","tag-piermont-properties","tag-shoprite"],"acf":[],"yoast_head":"\nMarcus & Millichap Arranges $20M New York ShopRite Sale - 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\/marcus-millichap-arranges-20m-new-york-shoprite-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marcus & Millichap Arranges $20M New York ShopRite Sale\" \/>\n<meta property=\"og:description\" content=\"The firm assisted the seller, sourced the buyer and facilitated acquisition financing for the nearly 61,000-square-foot Long Island property.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-arranges-20m-new-york-shoprite-sale\/\" \/>\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=\"2020-08-20T12:52:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T11:09:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/CPE-Brokers-Corner-827x400.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"827\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\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\\\/marcus-millichap-arranges-20m-new-york-shoprite-sale\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marcus-millichap-arranges-20m-new-york-shoprite-sale\\\/\"},\"author\":{\"name\":\"Pavel Cazacu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/caac04e9f88552f7c898ba456c2498d8\"},\"headline\":\"Marcus & Millichap Arranges $20M New York ShopRite Sale\",\"datePublished\":\"2020-08-20T12:52:12+00:00\",\"dateModified\":\"2025-02-26T11:09:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marcus-millichap-arranges-20m-new-york-shoprite-sale\\\/\"},\"wordCount\":218,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marcus-millichap-arranges-20m-new-york-shoprite-sale\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/11\\\/CPE-Brokers-Corner-827x400.jpg\",\"keywords\":[\"Barry Wolfe\",\"Glen Kunofsky\",\"Marcus & Millichap\",\"Piermont Properties\",\"ShopRite\"],\"articleSection\":[\"Deals\",\"Investment\",\"New York\",\"News\",\"Northeast\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marcus-millichap-arranges-20m-new-york-shoprite-sale\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marcus-millichap-arranges-20m-new-york-shoprite-sale\\\/\",\"name\":\"Marcus & Millichap Arranges $20M New York ShopRite Sale - 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