30,674 SF GROCERY-ANCHORED SHOPPING CENTER SELLS FOR $2.35M IN WINDSOR, VT

WINDSOR, VT: December 26, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Price Chopper Plaza, a 30,674-square-foot grocery-anchored shopping center located in Windsor, VT,. The shopping center sold for $2,350,000.

Mark Krantz, associate, and Derrick Dougherty, first vice president investments in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, Gary Richetelli of Commercial Development Company based in Orange, VT. The buyer, a real estate investment firm base out of Pittsburg, Pa, was secured and represented by the pair as well. Jeffrey Nick is the broker of record for Vermont.

“With extreme barriers to entry in this market, the Price Chopper Plaza is a highly successful asset,” Krantz said. “In today’s retail environment, grocery-anchored shopping centers continue to demand premium pricing.”

Price Chopper Plaza is located at 2781 US Route 5 N in Windsor, VT. The center consists of a combination of three service- based tenants, with national and regional brands. Price Chopper, a regional grocery operator, occupies 45 percent of the gross leasable area and has strong roots in the submarket. The tenant has been at the site since 1998 and has recently extended the lease ten years. They are the only grocery store within 15 miles. Price Chopper is complimented by Dollar General and Aubuchon Hardware. Dollar General has over 13,000 locations and Aubuchon Hardware has been at the site since 1989. The center sits on three acres with 100 parking spaces.

About Marcus & Millichap (NYSE: MMI)

With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit:www.MarcusMillichap.com