SPERRY VAN NESS COMPLETES $6.3 MILLION SALE OF SHOP RITE PLAZA

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NEWBURGH, N.Y. — Sperry Van Ness has brokered the $6.3 million sale of Shop Rite Plaza in Newburgh to a private investor from Queens, New York City. Five tenants fully lease the 55,156-square-foot property, which is situated on 5.6 acres on the corner of North Plank Road and Chestnut Lane. Shop Rite Supermarket, the anchor tenant, occupies 41,676 square feet. Joseph French and Neil Golub of Sperry Van Ness represented the private seller in the transaction, and Charlotte Goldblatt of Paramount Realty Group represented the buyer. The sale was a 1031 exchange.

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