Hubbards Commons at 713-761 Sunrise Highway in West Babylon, New York — Courtesy: JLL
By Joshua Burd
A team of Morristown-based brokers with JLL has completed the sale of a nearly 66,000-square-foot, grocery-anchored retail center on Long Island.
In a news release, the firm said it represented the seller of the 65,970-square-foot property at 713-761 Sunrise Highway in West Babylon. ShopOne Centers REIT purchased the 98 percent leased complex, known as Hubbards Commons, for $17 million.
Jose Cruz, Steve Simonelli, Kevin O’Hearn, Michael Oliver, Andrew Scandalios and Grace Braverman completed the assignment out of JLL’s Morristown office.
“Hubbards Common’s location as well as tenant mix drew strong interest from local and national buyers,” Cruz said. “Grocery anchored centers continue to be highly sought after by the investment community. We are very pleased with the outcome of this transaction.”
Tenants at Hubbards Commons include Best Market, Rite Aid Pharmacy and Orangetheory Fitness, JLL said. The one-building center was renovated in 2017 and is expandable through the development of a 10,900-square-foot building on an adjacent 1.8-acre, fully approved pad site.
