M id A tlantic Real Estate Journal — Retail Development — November 2024 — 41
www.marej.com
R etail D evelopment Union Consumer Square adds 385,000 s/f to the firm’s high-demand retail portfolio
Progress Realty Partners acquires $43.25 Million Sam’s Club Center
C
others. The center serves as a major retail destination in the area, attracting a steady flow
opportunity to acquire the top performing retail center in a market like Buffalo, so adding this asset to our portfolio is tremendous.” The addition of Union Con- sumer Square aligns with Progress Realty Partners’ strategy to enhance its pres- ence in densely populated regions and support the evolu- tion of open-air retail centers. The firm continues to seek out similar opportunities that demonstrate resilience, attract quality tenants, and provide vibrant shopping experiences to local communities. MAREJ
HEEKTOWAGA, NY — Progress Realty Partners , a private
of custom- ers from the surround- ing Buffalo communities and beyond. “The ten- ant synergy is one of the main attrac-
equity firm headquar- tered in Tin- ton Falls, New Jersey, announced that it has closed on its purchase of Union Con-
Dan Salonis
Adam Dickert
tions that lead us to buying Union Consumer Square,” said Adam Dickert , co- principal of Progress Realty Partners. “It’s rare to have an
sumer Square in Cheektowa- ga, NY, a prominent open-air retail center anchored by Sam’s Club. According to CoStar data, the transaction is the first retail property occupied by Sam’s Club to be sold in the past five years, and the larg - est transaction in Erie County since 2021, according to Buf- falo Business First . The 385,000 s/f property marks a significant addition to Progress Realty Partners’ growing portfolio in the Great- er Buffalo MSA, underscoring its commitment to strategic investments in high-demand retail spaces. “To say we’re excited is an understatement,” said Dan Salonis , co-principal of Prog- ress Realty Partners. “This acquisition reflects our ongo - ing commitment to investing in retail properties that offer a mix of strong national tenants and convenient accessibility for local consumers.” In addition to Sam’s Club, Union Consumer Square boasts an impressive lineup of national retailers, including Ross Dress for Less, Ulta Beauty, Mar- shalls, and LA Fitness, among Davis Commercial sells former Rite Aid in Somerset, NJ for $3.85 Million SOMERSET, NJ — Davis Commercial broker James Duffy, III has completed the
Sam’s Club
DIRECT CRE OWNERSHIP 100% PASSIVE
sale of a for- mer Rite Aid building at 773 Hamilton St. in Frank- lin Twp. The building was purchased by TLH 773 Hami l t on
LLC for $3.85 million. TLH 773 Hamilton LLC’s acquisi- tion will house Little Honors Day Care, an early childhood learning center. MAREJ James Duffy, III
info@prp.us | (732) 389-9701 | prp.us
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