SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of Towne Center at Canandaigua, a retail community center shadow anchored by a high-performing Wegmans and anchored by Bed Bath & Beyond, Petco and Michaels. The well-constructed and meticulously maintained center consists of 82,828 square feet and is situated on 8.15 acres of land. Towne Center at Canandaigua is located at 320 Eastern Boulevard in the heart of the Canandaigua retail corridor with 29,390 vehicles per day and convenient proximity to Canandaigua Lake in the Finger Lakes Region. The center’s strategic location is just 25 miles southeast of downtown Rochester, N.Y., home to almost 1.1 million people. The seller, COR Eastern Boulevard Company, LLC, sold the property on November 15, 2019 to Grandview Apartments II, LLC.
“It was great to get another Upstate New York community center sold for our client, COR Development,” said Kyle Stonis, managing principal of SRS’ Investment Properties Group. “They did a phenomenal job building and maintain high-quality shopping centers, which continue to provide attractive opportunities for the investment community chasing yield-driven retail with an upside component.”
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. The buyer was self-represented 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 25 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.