SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of Clay South Center in Liverpool, N.Y. The property is located at 3856 NY-31, just west of NY-481 and roughly 13 miles northwest of downtown Syracuse, N.Y. The center benefits from an affluent population characterized by an average household income of $103,305 within 3-miles of the property. The100 percent occupied community center consists of 195,972 square feet and is situated on 47.89 acres of land. The center is shadow-anchored by Target and anchored by Hobby Lobby and Lowe’s with two additional national tenants, Chipotle and Verizon Wireless. The center features retail essentials, which include excellent visibility and signage, a regional consumer draw in Lowe’s, a signalized main entrance, cross-access with a large power center, and institutional quality construction and design. The seller, Clay South Development Co, LLC and Clay Route 31 Development Company, LLC, sold the property on May 16, 2019 for $14.75 million to Wilson Development Group, LLC.
“Clay South is a great asset with a strong tenant credit profile,” said Kyle Stonis, managing principal, Investment Properties Group. “We were pleased to transact with a Buyer out of the Southeast, who valued the existing credit and stability of the Property along with its potential future value creation.”
Kyle Stonis, managing principal, and Pierce Mayson, principal, of the Investment Properties Group in the SRS Atlanta office, along with Jonathan Lapat, managing principal, of the Investment Properties Group in the SRS Boston office, represented the seller in the transaction. Kyle Fant, senior associate, and Britt Raymond, first vice president, of the National Net Lease Group in the SRS New York office, represented the buyer presented in this transaction.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.