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The Hub Sells for $33.8 Million

CB Richard Ellis' Tri-State Investment Team Brokers Deal
By Walt Brown
May 9, 2003 | 8:44 P.M.

The Hub, a 248,749-square-foot community shopping center in West Hempstead, NY, sold for $33.8 million or $135.88 per square foot. The Hub is a newly constructed community shopping center anchored by such notable tenants as Home Depot, Stop & Shop and Old Navy. The 100% leased property has existing debt in place, which was assumed by the buyer, Morris Realty Associates LLC, in the sale negotiations.

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