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Acadia Pays $56M for Shops at Grand Ave

AEW Affiliate Sells 100,000-SF Retail Center in Maspeth
By Justin Sumner
CoStar News
November 3, 2014 | 6:23 P.M.

AEW Core Property Trust (US), an open-end real estate fund controlled by AEW Capital Management, has sold The Shops at Grand Ave, located at 74-17 - 74-25 Grand Ave. in Maspeth, NY to a subsidiary of Acadia Realty for $56 million, or about $560 per square foot.

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