Progress Realty Partners Acquires D&L Plaza Shopping Center In Depew For $16.2M
5175 Broadway Depew, NY 14043, USA
$16,200,000
$108/SF
Building Size
150,000 SF
Asset Type
Retail
Closing
Jul 3, 2023
About this deal
AI
D&L Plaza, a shopping center located at 5175 Broadway in Depew, New York, has been sold for $16.2 million. The 12.5-acre property, anchored by Tops supermarket, was acquired by Progress Realty Partners through a closed-bid process. The retail center houses various tenants, including Ace Hardware, Big Lots, UPS, and Dollar Tree.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $16,200,000
- Market: Depew
- Address: 5175 Broadway
- Size: 150,000 square feet
- Price per square foot: $108
- Brokers: Ben Borruso & David Schille - Pyramid Brokerage Co.
Progress Realty Partners successfully acquired D&L Plaza, a shopping center in Depew, New York. The transaction was facilitated by brokers Ben Borruso and David Schille from Pyramid Brokerage Co.
Players
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Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93