JLL Capital Markets closed the sale of Samsondale Plaza in West Haverstraw to Northeast Capital Group
News release
11 July 2022
Stop & Stop-anchored retail center sells for $26.5M in Rockland County, NY
MORRISTOWN, N.J., July 11, 2022 – JLL Capital Markets announced today that it has closed the $26.5 million sale of Samsondale Plaza, a 156,185-square-foot shopping center anchored by Stop & Shop in the Rockland County community of West Haverstraw, New York.
JLL marketed the property on behalf of the seller, a joint venture between Mark Holdings LLC and Paragon Realty Group LLC. The buyer is an affiliate of Northeast Capital Group.
Samsondale Plaza is located at 45 South Route 9W and is anchored by Stop & Shop. Other major tenants at the 91% leased center include the New York State Department of Motor Vehicles, Dollar Tree, Advance Auto, Sports Clips, Sally Beauty Supply and Mandee.
The JLL Capital Markets team representing the seller was led by Jose Cruz, J.B. Bruno, Steve Simonelli, Michael Oliver, Kevin O'Hearn and Austin Pierce, along with Andrew Scandalios.
“Well-located grocery-anchored retail with upside in the rent roll continues to be in high demand today as investors look to increase their retail holdings,” Cruz said. “Samsondale provides a great current yield with a stable tenant base and future appreciation.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Mark Holdings LLC
Mark Holdings LLC is a national real estate investment and development company with a portfolio of holdings that includes multi-family, office and retail properties. Since its founding in 1999, the company and its affiliates have executed in excess of $1.4 billion in transactions.
About Paragon Realty Group LLC
Paragon Realty Group is a private real estate development and management company in Westport, Connecticut. For over 35 years, Paragon and its affiliates have invested in commercial real estate, primarily shopping centers in the Northeast, Mid-Atlantic and Southeast. Additional office spaces and mixed-use properties balance the company’s more than two million-square-foot portfolio.