Wilson Development Group Acquires 195,972-Square-Foot Retail Power Center in Upstate New York

by Alex Tostado

Liverpool, N.Y. — SRS Real Estate Partners, a Dallas-based retail brokerage firm, has closed the sale of Clay South Center, a 195,972-square-foot power center in Liverpool, located northwest of Syracuse. Shadow-anchored by Target and anchored by Hobby Lobby and Lowe’s, the property was fully leased at the time of sale to other national tenants such as Chipotle and Verizon Wireless. Kyle Stonis, Pierce Mayson and Jonathan Lapat of SRS represented the seller, a partnership between South Clay Development Co. LLC and Clay Route 31 Development Co. LLC, in the transaction. Kyle Fant and Britt Raymond, also with SRS, represented the buyer, Wilson Development Group, which acquired the asset for roughly $14.7 million. The average household income within a three-mile radius of the retail center exceeds $103,000.

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