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- LoopNet Team
205-225 Erie Blvd W
Rome, NY 13440
Freedom Plaza · Retail Property For Sale
PROPERTY FACTS
AMENITIES
- Pylon Sign
- Signage
ABOUT 205-225 ERIE BLVD W , ROME, NY 13440
Matthews Real Estate Investment Services is pleased to exclusively offer for sale Freedom Plaza, a dominant grocery-anchored shopping center located in Rome (Utica), NY. The total square footage at the center is 197,059 SF and is currently 94% occupied. Freedom Plaza has strong historical tenancy and is anchored by Tops Supermarket, Marshalls, JC Penney and Dollar Tree. JC Penney has been at the center for over 40 years and 79% of the remaining tenants have been at the center for over 13 years. Freedom Plaza is a unique investment as 93% of the current income comes from national and regional tenants, but there is also 12,500 SF of immediate upside through lease-up. In addition, JC Penney is paying low single digit rent. This protects an investor’s downside risk while going into the center with the ability to achieve double-digit cash-on-cash returns on a strong-performing grocery-anchored asset.
