PRESS RELEASE: New Closed Deal
Bennett Realty & Development (BRD), a full-service boutique commercial real estate firm with specialties in both Development and Brokerage, is pleased to announce the rare sale of a free-standing ShopRite Grocery Store located at 41 Vista Boulevard in Slingerlands, NY.
The deal traded in late 2020 for $18,495,000 for the free-standing, single-tenant triple-net leased asset.
Bill Howard, Managing Director at BRD, sold the property to an undisclosed private investor.
Mr. Howard added, “In early October, our client engaged us to acquire an investment-grade asset with a long-term, triple-net lease structure in the Tri-State Area for up to $20 million and to close by the end of 2020 to satisfy an accelerated depreciation requirement.”
CEO and founder of the firm, Tyler Bennett said, “Congratulations to our client and Bill for their hard work and dedication to seeing this deal through to closing. It is humbling to be placed with such trust from our clients. This transaction reflects the Company’s unique creed of ‘uncommon hustle, unrivaled results’ and is symbolic of our reach and capabilities within the market”.
About Bennett Realty & Development (BRD)
Bennett Realty & Development is a fully-integrated commercial real estate company with offices in New Jersey and North Carolina. With a focus on commercial and multi-family development and third-party services including disposition, investment sales, leasing, and tenant representation, BRD maintains an unrivaled specialized approach to the commercial real estate space.
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