SCG Retail Acquires Portfolio Of Four Retail Properties From Gershon & Company For $29.56M

A portfolio of four retail properties was sold in the market areas of Niagara Falls, Medina, Alden, and Springville, NY. The total sale price for the portfolio was $29,563,000, encompassing 357,627 square feet, translating to a price per square foot of $82. The properties included 1000 Portage Rd in Niagara Falls, NY, with 116,231 square feet; 11200 Maple Ridge Rd in Medina, NY, with 65,168 square feet; 12775 Broadway in Alden, NY, with 67,992 square feet; and 252 S Cascade Dr in Springville, NY, with 108,236 square feet.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $29,563,000
• Total Square Footage: 357,627
• Address: 1000 Portage Rd, Niagara Falls, NY 14301; 11200 Maple Ridge Rd, Medina, NY 14103; 12775 Broadway, Alden, NY 14004; 252 S Cascade Dr, Springville, NY 14141
• Buyer: SCG Retail
• Seller: Gershon & Company
• Broker: Daniel Baruch - Legacy Realty Group Advisors
• Price per Square Foot: $82

Daniel Baruch from Legacy Realty Group Advisors represented both the seller, Gershon & Company, and facilitated the transaction with SCG Retail as the buyer. This transaction involved a strategic acquisition of multiple properties, expanding SCG Retail's portfolio in the region.