Buffalo, NY – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of Delaware Consumer Square, a shopping center located at 2670-2730 Delaware Ave, Buffalo, NY. The 239,059 square foot property represents the largest shopping center sold in Western New York in 2021. The center is anchored by retail giant Target and is one of only six Target-anchored centers to sell in 2021 throughout North America. The transaction closed at $29,000,000 and was managed by Associate Vice President Zack Bates and Executive Vice President and National Director Ben Snyder.

 

Matthews™ represented the seller, a private client, who received a valuable price point at $121 price per square foot and a quick and easy transaction process, going under contract and closing in less than 40 days. Beyond Target, the center is anchored by prominent restaurants and retailers such as Starbucks, Burlington, and Applebee’s.

 

“Delaware Consumer Square was one of only six Target-anchored centers sold in North America this past year as Target owns the majority of their locations. This made the deal an extremely rare opportunity for investors,” Bates said. “By knowing the value of the property and the high-performing operators in place, we were able to price the location accurately and source a credible buyer.”

 

The buyer, a local investor, received a core shopping center in Buffalo, located only five miles from the city’s downtown. With the acquisition, the buyer received an immediate value-add opportunity with five vacant inline shop units, plus several strong-performing, long-term leases.

 

For more information or to contact Zack Bates and Ben Snyder, please visit www.matthews.com. This transaction was sold in conjunction with Broker of Record Jeffrey Terwiliger, Lic. No. 30TE0892302.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.