Horseheads, N.Y. — NKF Capital Markets has brokered the sale of Southern Tier Crossing, a retail property located in Horseheads.
A joint venture between DRA Advisors and DLC Management acquired the property from DDR for $18.5 million. Southern Tier Crossing comprises a 174,642-square-foot retail asset within a 522,734-square-foot power center in Upstate New York. At the time of sale, the property was 89 percent leased to tenants such as Dick’s Sporting Goods, Jo-Ann Fabric, PetSmart, Ulta Beauty, Five Below, Men’s Warehouse, Buffalo Wild Wings, Lane Bryant and Aspen Dental. Geoffrey Millerd and Justin Smith of NKF represented the seller in the transaction.