Kingston, N.Y. — CBRE has brokered the $36.5 million sale of two properties situated within Hudson Valley Plaza, a shopping center located in Kingston. Lowe’s and Sam’s Club occupy the buildings. Both tenants have occupied space at the shopping center since 1996. Walmart and PetSmart anchor Hudson Valley Plaza, which totals 673,000 square feet. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, an entity doing business as United Hampshire US REIT, in the transaction.
Nanuet, N.Y. — Katz has brokered the $7.6 million sale of two properties located in Nanuet. Both built in 1973, the properties include a 2,500-square-foot single-tenant building and a 30,000-square-foot multi-tenant building. Chase Bank occupies the single-tenant building, and the multi-tenant building is leased to Tile Shop, Carpet One and Hudson Valley Integrated Medicine. Donny Moskovic of Katz represented both the buyer and seller in the transaction.
Spencerport, N.Y. — Legacy Realty Group Advisors has arranged the sale of Spencerport Village Plaza, a 99,096-square-foot shopping center located in Spencerport. Tops Friendly Markets anchors the property. Jacob Baruch and Daniel Baruch of Legacy represented both the buyer and seller in the transaction.
New York City — Fast-casual pretzel brand Wetzel’s Pretzels has opened a new kiosk within Macy’s at the Queens Center Mall in New York City. Wetzel’s Pretzels occupies 480 square feet within the store, including a baking kiosk and dry storage space. The unit is owned and operated by franchisee Ricky Alam, whose portfolio includes nine Wetzel’s locations in Southern California and four in New York and New Jersey. Wetzel’s celebrated its 400-unit milestone earlier this year.
New York City — State of Play Hospitality, an entertainment retail operator, has signed a lease at 31 Union Square West in New York City, with plans to open a Flight Club venue. Spanning 10,700 square feet on the ground floor and basement of the property, the facility will offer darts-focused games with food-and-beverage options. Scheduled to open in 2025, this marks the ninth North America location for the brand. Blue Water Grill restaurant previously occupied the space.
Hempstead, N.Y. — PCCP has provided a $36 million senior loan for the acquisition of The Hub Shopping Center, a retail center located in Hempstead on Long Island. Agus Holdings is the borrower. Tenants at the property, which totals 248,569 square feet, include The Home Depot, Stop & Shop, Old Navy and AT&T. The center was 99 percent leased at the time of sale.
Quincy, Mass. — Stop & Shop, a grocery store chain based in the Boston suburb of Quincy, has announced plans to close 32 locations by the end of this year. Situated throughout the Northeast, the stores — described in a press release as “underperforming” — are located in Connecticut, Massachusetts, New Jersey, New York and Rhode Island. According to the grocer, the affected stores will shutter on or before Nov. 2. Associates at the locations will be offered other employment within the company. “As we announced in May, Stop & Shop …
Rochester, N.Y. — Red Oak Capital Holdings has provided an $8.6 million loan for the acquisition of Irondequoit Plaza, a 205,000-square-foot shopping center located in Rochester. Sky Capital is the borrower. Wegman’s anchors the center, which was developed in 1980. Other tenants at the property include Citizens Bank, Dollar Tree, Dunkin Donut and Big Lots. The center was most recently renovated in 2005. Sky Capital will use the loan from Red Oak to finance the $9.5 million purchase of a 123,479-square-foot non-anchored portion of the property. Sky Capital is purchasing the …
New York City and Dallas — HBC, the New York City-based parent company of Saks Fifth Avenue, has agreed to acquire Dallas-based Neiman Marcus Group. The merger between the two luxury fashion retailers is valued at $2.6 billion. An estimated closing date was not released. Following the acquisition, HBC will establish Saks Global, an entity that will combine the intellectual property and real estate assets of the two companies. Brands that are already owned by HBC or Neiman Marcus, including Saks OFF 5th, Bergdorf Goodman and Last Call Outlet, will continue …
Elmira, N.Y. — Time Equities Inc. (TEI) has purchased Big Flats Commons, a 44,635-square-foot retail center located in Elmira. Target anchors the property, which was built in 2007. Other tenants at the center include Best Buy, Maurice’s, Five Guys, Panera Bread, Vitamin Shoppe and Papa John’s. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith represented TEI on an in-house basis. Kenneth Brownwell of Vanguard-Fine represented the seller, NNN Reit.
