Cleeman Realty Group is pleased to announce the $38,500,000 portfolio sale of five (5) Tops Supermarket anchored shopping centers in Hamlin, Arcade, Avon and Tonawanda, NY. The properties were 93% occupied at the time of sale and included over 425,000 SF of GLA leased to several national, regional and local tenants including Big Lots, McDonalds, Rent-A-Center, Family Dollar and Texas Roadhouse. The properties were all anchored by the leading grocer in their markets.

Michael Cleeman and Sam Seelenfreund of Cleeman Realty Group represented the buyer and Cushman & Wakefield, and Pyramid Brokerage Company represented the seller in this transaction.

“The buyer was attracted to the portfolio for the strong-performing grocery anchored centers with a long operating history. They are all well positioned for future growth after the successful Tops / Price Chopper merger that recently closed” said Seelenfreund. “the portfolio gave the buyer an opportunity to quickly add significant square footage to an existing portfolio of dominant grocery anchored New York shopping centers” said Cleeman

Cleeman Realty Group is a full-service real estate advisory and investment group, specializing in the investment sales of retail, multifamily and industrial properties throughout the United States. The Cleeman team utilizes deeply rooted industry contacts to identify and evaluate off-market transactions with unparalleled efficiency. To sell your property or to inquire about our available acquisition opportunities, please contact one of our team members at www.cleeman.com