Thor Equities LLC sold a roughly 200,000-square-foot waterfront retail asset in Brooklyn, N.Y., for $73 million, the Commercial Observer reported, citing property records.
The property at 1752 Shore Parkway was acquired by Algin Management Co. LLC at an approximately 5.75% cap rate. The property includes a 136,000-square-foot big box store leased to BJ's Wholesale Club, a public esplanade and a 60,000-square-foot parking garage, a Thor spokeswoman told the publication.
Representatives from Algin did not immediately respond to a request for comment, according to the publication.
