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Newmark announced today the successful completion of the sale of Latham Farms in Latham, New York to The Davis Companies. On behalf of Kimco Realty Corporation, Vice Chairman Geoffrey Millerd<\/a>, Senior Managing Director Justin Smith<\/a> and Director Paul Penman<\/a> of Newmark’s Boston<\/a> Capital Markets<\/a> team - which is led by Co-Head of U.S. Capital Markets Robert Griffin<\/a> - oversaw the transaction in conjunction with Newmark Executive Managing Director Thomas Dobrowski<\/a>.
Totaling 629,575 square feet, Latham Farms is presently 84 percent leased to a diverse 26-tenant roster anchored by Sam’s Club, Dick’s Sporting Goods”,”Field & Stream, Home Depot, Hannaford and All Star Wine & Spirits.
"Latham Farms is a best-in-class retail center with exceptional stability driven by long-term anchor leases, credit tenancy and a strong weighted average remaining lease term," said Smith. "It features a strategic location within one of Greater Albany’s largest retail nodes and most affluent residential communities, generating super-regional draw."
Latham Farms is situated less than 10 miles north of Albany, the capital of the state of New York, at the convergence of Interstate 87 and Routes 2, 7 and 9. It is surrounded by three- and five-mile population counts of 41,100 and 154,800 people, respectively, with corresponding average household incomes of $106,700 and $85,000.
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