Wilton Square, located in the prime Route 50 retail corridor, is situated within one mile of more than 1.3 million square feet of retail space. CBRE notes that the region's demographics are very strong. For example, the average household income within three miles of the center is $95,000. In addition, the number of households in the area has increased 20% since 2000.

Nigro has extensive holdings in Upstate New York. According to its website, the company also owns a 16,000-square-foot Walgreens supermarket on Route 50 in Saratoga Springs as well as Hannaford Plaza, a 179,909-square-foot shopping center at 95 Weibel Ave., also in Saratoga Springs.

SARATOGA SPRINGS, NY—The Nigro Companies of Albany, NY has added the Wilton Square shopping center here to its Upstate New York portfolio for a reported purchase price of $49.3 million.

The 438,097-square-foot shopping center on Route 50 was sold by Retail Properties of America, Inc. of Oak Brook, IL. The sale was reported by CBRE's National Retail Partners. CBRE's Jeffrey Dunne, David Gavin and Travis Langer represented the seller and procured the buyer in the deal.

The center is 100% leased and is anchored by Price Chopper's Market 32, Home Depot, Target, AC Moore, Staples, Barnes & Noble, PetSmart and Rite Aid.

“Wilton Square is the dominant grocery-anchored center in the market. Its strong in-place income and occupancy history will provide Nigro with stable cash flow for years to come. These qualities, combined with Nigro's experience in the market, made Wilton Square an ideal property to add to their real estate portfolio in the Northeast.”

Wilton Square, located in the prime Route 50 retail corridor, is situated within one mile of more than 1.3 million square feet of retail space. CBRE notes that the region's demographics are very strong. For example, the average household income within three miles of the center is $95,000. In addition, the number of households in the area has increased 20% since 2000.

Nigro has extensive holdings in Upstate New York. According to its website, the company also owns a 16,000-square-foot Walgreens supermarket on Route 50 in Saratoga Springs as well as Hannaford Plaza, a 179,909-square-foot shopping center at 95 Weibel Ave., also in Saratoga Springs.