**Heitman Sells Whole Foods-Anchored Chappaqua Crossing to Barings for $76.5 Million**
Jeffrey Dunne, David Gavin, and Travis Langer of CBRE’s National Retail Partners represented Heitman in the sale of Chappaqua Crossing, a premier retail center in Chappaqua, New York, for $76.5 million. The CBRE team also procured the buyer, Barings, LLC.
Strategically located between the Saw Mill Parkway and Route 117, Chappaqua Crossing is anchored by major tenants including Whole Foods, Life Time Fitness, Starbucks, and Chase Bank. Situated in the affluent and supply-constrained northern Westchester County market, the property offers a strong retail presence in a high-barrier-to-entry area.
The development of Chappaqua Crossing was a lengthy undertaking, requiring over 12 years for approvals and construction. The mixed-use project was developed on the site of the former Reader’s Digest headquarters and spans 114 acres. In addition to more than 500,000 square feet of medical and office space, the site also features residential components, including 64 apartments and 91 luxury townhomes recently completed by Toll Brothers.
Jeffrey Dunne commented on the significance of the transaction, stating, “The sale of Chappaqua Crossing represented a unique opportunity to purchase a Whole Foods-anchored center in an incredibly high barriers-to-entry Westchester County market.”
