August 15, 2019 Comments Off on ShopOne Picks Up LI Grocery-Anchored Center Views: 432 Long Island, New York News, Tri-State Area New York

ShopOne Picks Up LI Grocery-Anchored Center

JLL closed the $17-million sale of Hubbards Commons, a 65,970-square-foot, grocery-anchored shopping center in the Long Island community of West Babylon, NY. ShopOne Centers REIT purchased the property.

The New Jersey-based JLL capital markets team representing the undisclosed seller included Jose Cruz, Steve Simonelli, Kevin O’Hearn, Michael Oliver, Andrew Scandalios and Grace Braverman. Hubbards Commons is 98% leased to a variety of tenants, including Best Market, Rite Aid Pharmacy and Orangetheory Fitness.

“Hubbards Commons’ location, as well as tenant mix, drew strong interest from local and national buyers,” said Cruz. “Grocery-anchored centers continue to be highly sought after by the investment community.”

The one-building center was renovated in 2017, and is expandable through the development of a 10,900-square-foot building on an adjacent 1.8-acre, fully approved pad site.

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