Phillips Edison & Company Acquires Retail Center From Joyland Management For $57 Million In Staten Island

The retail asset involved in this transaction is a shopping center known as South Shore Commons, located at 2965 Veterans Road West in Staten Island. The property was sold for $57 million and encompasses a total area of 157,347 square feet, resulting in a price per square foot of $362.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $57,000,000
• Buyer: Jeffrey S. Edison - Phillips Edison & Company
• Seller: Judy Minster - Joyland Management
• Brokers: Daniel O'Brien, Conor Lalor, Caroline Hodes, Loren Valla, Felton Hatcher & Adam Spies - Newmark
• Market: Staten Island

The transaction involved prominent figures, including buyer Jeffrey S. Edison representing Phillips Edison & Company and seller Judy Minster from Joyland Management. The brokers facilitating the deal were part of Newmark, comprising Daniel O'Brien, Conor Lalor, Caroline Hodes, Loren Valla, Felton Hatcher, and Adam Spies.