BRM Development Acquires Grocery Anchored Shopping Center In East Greenbush For $17.25M

The transaction involved a retail asset located at 592 Columbia Turnpike in the East Greenbush market. The sale price was $17,250,000, and the property spans 111,077 square feet, resulting in a price per square foot of $155.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $17,250,000
• Buyer: BRM Development
• Buyer's Representative: Josh Goldflam - Highcap Group
• Seller: Josben Sacco
• CAP Rate: 7.5%
• Occupancy: 93%
• Asset Features: Grocery anchored shopping center with national tenants
• Purchase Method: 1031 exchange

This transaction highlighted the involvement of BRM Development, represented by Lewis Barbanel, as the buyer. The deal was facilitated by Josh Goldflam from Highcap Group, representing BRM Development in this acquisition.