CBRE Brokers Sale of 240,378 SF Retail Center in New York

NEWBURGH, N.Y. — CBRE Group Inc. has brokered the sale of Newburgh Crossing, a retail center located in Newburgh. Monsey, N.Y.-based DBD Holdings LLC purchased the property from RPAI Newburgh Crossing LLC, an entity controlled by Retail Properties of America Inc., for an undisclosed price. Situated at the intersection of Route 300 and 17K, the 240,378-square-foot retail center is 100 percent occupied by national tenants, including Michaels, Barnes & Noble, Pier 1 Imports and TGI Friday’s. Jeffrey Dune and David Gavin of CBRE’s Institutional Properties team represented the seller and procured the buyer in the transaction.