Heidenberg Properties Group Acquires Retail Asset In Colonie From Seritage Growth Properties For $28M

The retail property located at 1814 Central Avenue in Colonie was successfully sold for $28,000,000. The asset spans 243,389 square feet and was acquired by Jason Lazar of Heidenberg Properties Group from Seritage Growth Properties. The transaction was facilitated by Alex Kutikov of Redmark, serving as the broker.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $28,000,000
• Buyer: Jason Lazar - Heidenberg Properties Group
• Seller: Seritage Growth Properties
• Broker: Alex Kutikov - Redmark
• Lender: Provident Bank
• Address: 1814 Central Avenue
• Market: Colonie
• SF: 243,389
• PPSF: $115

Heidenberg Properties Group of New Jersey made the significant acquisition which included prominent tenants at Colonie Center like Whole Foods Market, Floor & Decor, and the impending Sierra. The deal signifies a strategic investment in the bustling retail market the area offers.