Manhattan-based REIT shells out $17M for West Babylon shopping center

Hubbard's Commons
Hubbard's Commons

Manhattan-based real estate investment trust ShopOne Centers bought a 65,970-square-foot shopping center in West Babylon from Urban Edge Properties for $17 million, Long Island Business News reported. Hubbard’s Commons is anchored by a Best Market that will soon become a Lidl supermarket; the center, which is 98 percent leased, is also home to an Orangetheory Fitness and a Rite Aid, among other tenants. “With fitness, restaurant and daily-needs tenants, backed by a strong grocery anchor, Hubbard’s Commons creates a unique one-stop destination for the nearly 150,000 residents within a three-mile radius of the center,” ShopOne CEO and CFO John Roche said in a statement. JLL’s Jose Cruz and Steve Simonelli represented both the buyer and the seller. [LIBN]

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