Boston— Newmark Knight Frank announced the 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, Senior Managing Director Justin Smith and Director Paul Penman of NKF’s Boston Capital Markets team – which is led by Co-Head of U.S. Capital Markets Robert Griffin – oversaw the transaction in conjunction with NKF Executive Managing Director Thomas Dobrowski.
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.