Cushman & Wakefield Arranges Sale of New York Shopping Center

The $35 million deal marks the second collaboration between the company and Ashkenazy Acquisition Corp.
Ferndale Shopping Center. Image courtesy of Cushman & Wakefield

Ashkenazy Acquisition Corp. has acquired Ferndale Shopping Center in Larchmont, N.Y. Ten Grand Inc. sold the 84,000-square-foot asset for $35 million. A Cushman & Wakefield Capital Markets team comprising Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Frank DiTommaso and Kyle Schmidt, Matt Lisk and Al Mirin represented the seller in the transaction and procured the buyer.

Located on 6.8 acres at 1310-1340 Boston Post Road, the property serves 150,000 people with an average household income of $160,000 within a 3-mile distance. Ferndale Shopping Center has direct access to major roads such as Weaver Street and West Boston Post Road. Interstate 95 is minutes away.

The retail center was 96 percent leased at the time of the sale. The tenant roster includes four national and three local businesses including Stop & Shop and CVS.

This was the second deal Cushman & Wakefield arranged for the buyer this month. The brokerage company orchestrated a $125 million retail purchase for Ashkenazy Acquisition Corp. earlier in November. 

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