$35.5m shopping center sale inked.

Robert K. Futterman & Associates, LLC has completed the sale of Flatbush Center, 1007 Flatbush Ave. in Brooklyn, N.Y., to Alex Adjmi and Robert Cayre for $35.5 million.

The 141,599 s/f community shopping center was purchased from Forest City Ratner Cos.

Barry Fishbach, executive vice president, with RKF represented the purchaser in the transaction. Fiatbush Center, located at the intersection of Flatbush and Tilden avenues, was built in 1996 as a Caldor's, and was renovated and retenanted in 1998. The grocery-anchored shopping center offers rooftop parking.

"This is an excellent investment. Flatbush Center is fully leased to four national retailers with strong sales volumes--Super Stop & Shop, Bally's Total Fitness, Old Navy and Staples," said Fishbach.

"We were attracted to the property because of the limited number of grocery-anchored centers in the boroughs. The area is very densely populated and offers excellent demographics," said Adjmi.

RKF has completed the sale of two other former Caldor's locations.In 2002, the company spearheaded the sale of 2 Fordham Square in the Bronx to Fordham Associates on behalf of Vornado Realty Trust. Late last year, RKF handled the sale of West Shore Plaza on Staten Island to Alex Adjmi on behalf of Phoenix Four Inc.