CBRE Arranges $14.73M Sale of Crosstown Plaza Grocery-Anchored Center in Schenectady to Agora Commercial

CBRE has arranged the $14.73 million sale of Crosstown Plaza, a 210,515-square-foot grocery-anchored shopping center located at 2330 Watt Street in Schenectady, New York. Agora Commercial purchased the property from Magellan Investment Partners, with CBRE's National Retail Partners team representing both buyer and seller in the transaction.

Transaction Details and Brokerage Team

Chris Munley, Colin Behr, Ryan Sciullo, and Casey Smith of CBRE's National Retail Partners team, along with CBRE's David Gavin and Jeffrey Dunne, represented both sides of the deal. The sale price of $14.73 million equates to approximately $70 per square foot based on the property's total square footage.

"We're grateful to the seller team for their partnership and the care they've invested in Crosstown Plaza, and we congratulate Agora Commercial on the most recent addition to their growing Grocery-Anchored shopping center portfolio," said Munley. "With a strong anchor lineup and 86.3% occupancy, there's real upside for a skilled operator to add value. We look forward to seeing what's next for this well-located asset."

Behr characterized the deal as competitively sought. "Crosstown represented a unique opportunity to acquire a value-add, grocery-anchored shopping center in a densely populated, high-barrier-to-entry retail market," he said. "The profile of this deal drove an extremely competitive process."

Property Profile: Crosstown Plaza

Built in 1970 and renovated in 2019, Crosstown Plaza is situated along NY Route 7 with direct connectivity to Interstate 890. The center serves a trade area population of more than 104,000 residents within a three-mile radius, with an average household income of $106,728, according to CBRE.

Price Rite Marketplace anchors the property, which also features a diverse mix of national and regional tenants including Ocean State Job Lot, Buffalo Wild Wings, Best Fitness, and Harbor Freight. The center was 86.3% occupied at the time of sale.

Agora Commercial's Plans for the Asset

Nick Skeparnias, Principal at Agora Commercial, outlined the firm's plans for the asset following the acquisition. "We are excited to begin the next chapter for Crosstown Plaza and believe the property is exceptionally well-positioned for long-term growth and success," Skeparnias said. "Neighborhood shopping centers serve as the cornerstone of their communities, and Crosstown Plaza is no exception. As the new owners, we look forward to making strategic investments that enhance the property, strengthen its tenant mix and reinforce its role as a premier neighborhood shopping destination."

The transaction closed July 15, 2026.

Sources

CBRE Press Release: CBRE Arranges $14.73M Sale of Crosstown Plaza in Schenectady, New York