- 154,405 sf Grocery Anchored Retail Plaza
- Brunswick, NY
Axiom Realty Advisors, LLC announces the $20,500,000 sale of a grocery anchored retail plaza in Brunswick, NY. The property is comprised of 154,405 SF built in 1996 and anchored by a 63,500 SF Price Chopper Supermarket (“PC”). The store is one of the chain’s top performing stores and has been the center’s anchor since the plaza was constructed. Other tenants include a mix of national and local tenants including: AT&T, Dollar Tree, Auto Zone, Price Chopper, Metro Mattress and Goodwill to name a few.
The subject property is strategically located at the SW corner of Hoosick Rd. (NYS Route 7) and McChesney Ave., the epicenter of Northern Rensselaer County’s primary retail corridor. Geographically, the area’s terrain and river limit road building, making Hoosick Rd. upstate NY’s primary thoroughfare connecting the area to VT and northern New England to the East and Albany County to the West. Average daily traffic counts at the site exceed 24,000 vehicles. The location serves a large trade area that extends east to the VT border and north to Cambridge, NY.
The Town of Brunswick is a suburb of Rensselaer County, bordering the City of Troy, in NY’s Capital District Region. Brunswick remained mostly rural into the mid-late 20th century and still has a farm culture, however, the 1990s brought expansion along Hoosick Rd., starting with the addition of Wal-Mart, Brunswick Plaza & Price Chopper in 1996. There are several places of higher learning located within a few miles of Brunswick in Troy: RPI, Russell Sage, and Hudson Valley Community College. Due to its proximity to the rest of the Capital District and the mix of a small-town atmosphere with big-city conveniences, there are numerous existing, under-construction, and proposed housing developments, apartment complexes, and retirement homes in Brunswick.
As of 2014, population within a three & five-mile radius of the subject property was 55,183 & 114,881, respectively. Average household income within a one-mile radius of the property was $103,048 with three & five-mile radii having average incomes of $69,784 & $68,752, respectively. The average unemployment rate within Rensselaer County was 4.9% as of December, 2014.