East Rutherford, N.J. — Triple Five — owners of American Dream — have secured financing for the 3 million-square-foot development, which is located in East Rutherford, roughly 13 miles outside of New York City. Financing, provided by a group led by JP Morgan, was obtained for an extended term of four years, maturing in October of 2026. Attractions at American Dream include DreamWorks Water Park, Nickelodeon Universe Theme Park, LEGOLAND Discovery Center, SEA LIFE Aquarium, Big SNOW Ski Hill and Dream Wheel. Retail and food and beverage tenants include Saks …
Jericho, N.Y. — Kimco Realty (NYSE: KIM), a retail and mixed-use real estate REIT based in Jericho, has acquired a portfolio of eight shopping centers on Long Island. Kabro Associates, a privately held owner based in Woodbury, N.Y., sold the portfolio to Kimco for $375.8 million. Each of the eight retail centers, five of which are grocery-anchored, are located within a 15-minute drive of the Kimco corporate headquarters in Jericho. The centers in the sold portfolio include: • The Gardens at Great Neck • Woodbury Common • The Market Place • …
Webster, N.Y. — Horvath & Tremblay has arranged the sale of Webster Plaza, a 154,991-square-foot retail center located in Webster, approximately 10 miles northeast of Rochester. Bob Horvath, Todd Tremblay and Jeremy Black of Horvath & Tremblay represented the undisclosed seller in the $18.6 million transaction. Tenants at the center, which is anchored by Savers, include a public library, Pet Supplies Plus, Starbucks Coffee, Subway, Fed-Ex, Yolickity, KeyBank, Bank of America and Burger King. KeyBank, Bank of America and Burger King occupy freestanding single-tenant buildings at the property.
White Plains, N.Y. — Pacific Retail Capital Partners (PRCP) and Aareal Bank have formed a new joint venture with SL Green Realty Corp. and the Cappelli Organization to consider redevelopment options for The Galleria at White Plains, a 10-acre indoor shopping mall in the New York City suburb of White Plains. The envisioned renovations to The Galleria are part of a larger renaissance for the area. The mall is part of a qualified Opportunity Zone, meaning that new investments in the area may be eligible for preferential tax treatment under …
New York City — Cushman & Wakefield has arranged $142.9 million in construction financing for 120 Fifth Ave., a mixed-use development in the Park Slope neighborhood of Brooklyn. The borrowers, Senlac Ridge Partners and The William Macklowe Company, are redeveloping the two-acre site, currently a one-story vacant grocery store and its parking lot, into a 212,000-square-foot mixed-income housing property and retail plaza. The project will comprise two buildings featuring 180 residential units, 25 percent of which will be affordable. The development will also offer 67,000 square feet of retail space …
Bohemia, N.Y. — Boot Barn, a Western and work apparel retailer, has signed a lease at Sayville Plaza in Bohemia on Long Island. Boot Barn will occupy a 10,000-square-foot space at the shopping center, which features other tenants including Bed Bath & Beyond, Old Navy, Christmas Tree Shops, Panera Bread, The Vitamin Shoppe, Chipotle Mexican Grill, F45 Fitness, Sprint, Floor & Décor, At Home, Aldi and JOANN Fabric and Crafts. Robert Delavale of Breslin Realty arranged the lease on behalf of the landlord.
New City, N.Y. — The KABR Group, in partnership with BTF, has purchased New City Shopping Center, a 125,110-square-foot property located in New City, roughly 40 miles north of New York City. The grocery-anchored retail center was 96 percent leased at the time of the $30 million sale. Jose Cruz, J.B. Bruno, Kevin O’Hearn, Michael Oliver, Steve Simonelli, Andrew Scandalios and Austin Pierce of JLL Capital Markets represented the undisclosed seller in the transaction.
New York City — Daniel DePasquale of Katz & Associates has leased two retail spaces located in the New York City borough of Queens. Japanese grocery store Teso Life has signed a 6,000-square-foot lease at 42-19 Bell Blvd. in the Bayside neighborhood, and Filipino fast-casual restaurant Jollibee will occupy 3,614 square feet on the ground floor at 91-23 Queens Blvd. DePasquale represented the landlords, Paulipark Associates LLC and Midwood, respectively, in both deals. Both tenants are scheduled to open in 2023.
Farmingdale, N.Y. — Breslin Realty has arranged a long-term lease with fast-casual restaurant Noodles & Company for 2,500 square feet of space at Republic Plaza, a shopping center located in Farmingdale on Long Island. Robert Delavale of Breslin negotiated the deal on behalf of the undisclosed landlord. Other tenants of Republic Plaza include Walmart Supercenter, Chili’s, Houlihan’s, Bank of America, Panera Bread, Chipotle Mexican Grill, Burger Village, The Halal Guys and AAA.
New York City — Regal Ventures has acquired a 37,165-square-foot retail and parking condo located at 897 Eighth Ave. in Manhattan’s Hell’s Kitchen neighborhood for $35.2 million. The property’s retail component is 15,893 square feet, and the parking space spans 21,272 square feet. Regal Ventures acquired the property in partnership with Morrison Street Capital from Prudential Financial.