1746 Route 9 in Clifton Park — Courtesy: The Hampshire Cos.
By Joshua Burd
The Hampshire Cos. has sold a 10-year-old, single-tenant retail building just outside Albany, New York, the Morristown-based real estate firm said Wednesday.
The company said a private buyer acquired the 22,670-square-foot, freestanding building at 1746 Route 9 in Clifton Park. The property is fully leased to Tractor Supply Co., which has occupied the space since the building’s construction in 2006.
Clifton Park is located about 15 miles north of Albany, Hampshire said in a news release. The building is located along Route 9, the area’s primary commercial thoroughfare, and offers easy access to Interstate 87.
“As a triple net lease retail location in a high traffic area with an accredited, long-term tenant in place this was an ideal acquisition for a buyer seeking stabilized cash flow and steady annual returns,” Igor Derbaremdiker, director of dispositions for Hampshire, said in a prepared statement. “The sale of the property aligned with our investment strategy for this asset and enabled us to achieve superior returns on our committed capital and maximize our profit.”
Richard Harris of America East Real Estate LLC and Howard Stotsky of Real Estate Investment Corp. represented Hampshire in the transaction.