Port Washington, N.Y. — PEBB Enterprises and Sagamore Hill Partners have received a $26.8 million loan to refinance Soundview Marketplace, a 188,109-square-foot shopping center located on Long Island’s North Shore in Port Washington.
Built in 1962 and 1977, the property comprises four buildings and is situated on nearly 11 acres. The center is occupied by tenants including Target, T.J. Maxx, Walgreens, Five Below, Ace Hardware, Crumbl Cookies and Starbucks Coffee. The Training Station Athletic Club will open a 22,100-square-foot location at the property in November in a space formerly occupied by a movie theater.
Christopher Staller of Nelson Mullins secured the loan through City National Bank on behalf of PEBB and Sagamore Hill. RIPCO Real Estate is overseeing the leasing and property management of Soundview Marketplace.
PEBB and Sagamore Hill originally acquired the property in December 2020.