March 22, 2022 – Jeremy Black and Brad Canova of Horvath & Tremblay have successfully completed the sale of a Mixed-Use Building and two pad sites in Malta, New York. Horvath & Tremblay represented the seller and procured the buyer in this transaction at a sale price of $4,925,000.
The Property is located at 4 Kelch Drive in Malta, New York. The property is comprised of a new construction, two-story mixed-use building, which contains 17,644 square feet of leasable space and two pad sites. The mixed-use building is 72% occupied to a strong mix of tenants including Five Guys, AT&T, Jersey Mike’s, Sergio’s Pizza and Amici Hair Salon. Pad Site A has been approved for a 9,800 square foot building and Pad Site B has been approved for a 4,800 square foot building. The Property is well-located within a new development that is positioned on a roundabout between Interstate 87 and US Route 9 (both less than 0.5-miles away). The location is part of a brand-new, 50-acre mixed-use development, which features retail shops, a free-standing Starbucks, a hotel and 300 luxury apartments. The area benefits from the employee population at the nearby Luther Forest Technology Campus, which features the GlobalFoundries multi-billion-dollar semiconductor facility with over 3,000 employees.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.