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News

WP Realty sells New York portfolio

WP Realty, a real estate investment, development, management and leasing company headquartered in Bryn Mawr, Pennsylvania, is pleased to announce the sale of a portfolio of three properties in New York to Erez Capital Fund Inc.

• Irondequoit Plaza is located in Irondequoit, New York, which is a suburb of Rochester, and the largest town in Monroe County. The property is situated at the intersection of Hudson Avenue (Route 112) and Titus Avenue (Route 91), a primary east/west commercial thoroughfare. Irondequoit Plaza is a 216,000 square foot community shopping center anchored by Wegman’s in 90,000 square feet and Big Lots in 27,000 square feet. Other tenants include Dollar General, Dollar Tree and Citizens Bank. Dunkin Donuts occupies a pad site. The property was originally acquired on August 3, 1995, and is currently 99% leased.

• St. Lawrence Plaza is located in Massena, New York. St. Lawrence County is the largest county in New York State and is situated along the New York/Canada border. St. Lawrence Plaza is located on the south side of Highway 37, which is a heavily traveled thoroughfare that connects to Interstate 81, US Highway 11 and Interstate 87. St. Lawrence Plaza is a 166,000 square foot community shopping center anchored by BJ’s Wholesale Club in 68,160 square feet, Hannaford Brothers in 56,717 square feet and OfficeMax in 25,370 square feet. St. Lawrence Plaza was originally acquired on July 31, 1997 and is currently 99% leased.

• Saranac Lake Plaza is located in Saranac Lake, Essex County, New York. It is the dominant neighborhood shopping center in historic Saranac Lake; a community rich in culture and history close to Lake Placid in the scenic Adirondacks. Saranac Lake Plaza is a 68,000 square foot newly redeveloped retail shopping center anchored by Ace Hardware in 20,000 square feet, Grand Union supermarket in 17,000 square feet, Dollar Tree in 11,385 square feet and Advance Auto in 10,500 square feet. Saranac Lake Plaza was originally acquired on November 15, 2002 and is currently 100% leased.