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Shoppes at Jefferson Valley Mall
Investment salesNew YorkNews

IPA Arranges Sale of 153,151-Square-Foot Retail Building in Yorktown Heights, New York

by Hayden Spiess

Yorktown Heights, N.Y. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the sale of The Shoppes at Jefferson Valley Mall, a 153,151-square-foot property located in Yorktown Heights. The four-suite building was 24.2 percent occupied at the time of sale. Built in 1983, The Shoppes at Jefferson Valley Mall is situated on 12 acres adjacent to Jefferson Valley Mall. 24 Hour Fitness is a tenant at the property, and Funtime Entertainment has a license to use 2,500 square feet of space within the building for storage. Joseph French, Jr. …

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Matthews Brokers $20.1 Million Sale of Napa Auto Parts Portfolio

by Hayden Spiess

Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.

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Grocery-anchoredInvestment salesNew YorkNews

Cushman & Wakefield Arranges Sale of Two Retail Centers Totaling 416,544 Square Feet in Hamburg, New York

by Hayden Spiess

Hamburg, N.Y. — Cushman & Wakefield has arranged the sale of two adjacent retail centers comprising a total 416,544 square feet in Hamburg. Located at 4408 Milestrip Road, the first center, BJ’s Plaza, is anchored by BJ’s Wholesale Club and was fully leased to 10 tenants at the time of sale. The Home Depot anchors the second property, McKinley Milestrip, which is located at 4405 Milestrip Road and was 94 percent leased to 20 tenants at the time of sale. The centers comprise 176,045 and 240,499 square feet, respectively. Gary …

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Investment salesNew YorkNews

Cushman & Wakefield Brokers $22 Million Sale of Retail Property in East Hampton, New York

by Hayden Spiess

East Hampton, N.Y. — Cushman & Wakefield has brokered the $22 million sale of a two-story, 5,000-square-foot retail property in the Long Island community of East Hampton. Jordan Sutton, Robert Shapiro, Dan Abbondandolo and Victor Little of Cushman & Wakefield represented the sellers, two private investors, in the transaction. Luxury retailer Louis Vuitton Moët Hennessy acquired the property, which is currently leased to jewelry and accessories retailer Cartier.

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foot-locker
Company newsNew YorkNews

Foot Locker to Close More Than 400 Stores

by Hayden Spiess

New York City — Foot Locker will close more than 400 underperforming stores as part of its “Lace Up” plan, announced during the company’s 2023 Investor Day call. According to Tony Aversa, senior vice president of global store development, the move is part of a strategy to manage portfolio risk by way of strategic closures. The company currently operates 2,700 locations, which will be reduced to approximately 2,400 by 2026, a number which also reflects the planned addition of stores in new formats. Despite the closures, Foot Locker intends to …

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Grocery-anchoredInvestment salesNew YorkNews

CBRE Brokers $112 Million Sale of Mixed-Use Development in White Plains, New York

by Hayden Spiess

White Plains, N.Y. — CBRE has brokered the $112 million sale of The Source, a mixed-use development located in White Plains. Whole Foods Market anchors the property, which comprises 262,000 square feet and was 99 percent leased at the time of sale. Other tenants include Dick’s Sporting Goods, Raymour & Flanigan and The Cheesecake Factory. Jeffrey Dunne, David Gavin, Steve Bardsley and Travis Langer of CBRE represented the seller, which the Wall Street Journal reports was UBS Realty Investors LLC, and procured the buyer in the transaction.

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LeasingNew YorkNews

Salons by JC Signs 13,316-Square-Foot Lease at One Boerum Place in Brooklyn

by Hayden Spiess

New York City — Salon suite company Salons by JC has signed a 25-year lease at One Boerum Place, a 250,000-square-foot mixed-use development located in the Brooklyn borough of New York City. The tenant will occupy 13,316 square feet within the property’s 21,365-square-foot retail space. Michael K. Davis of Compass represented Salons by JC in the lease negotiations. Jeremy Ezra, Peter Whiteneck and Tyler King of Newmark Knight Frank represented the landlord, Avery Hall.

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Company newsLeasingNew YorkNews

A&G to Auction 250 Tuesday Morning Leases

by Hayden Spiess

New York City — A&G Real Estate Partners will auction over 250 Tuesday Morning Corp. leases as part of the first round of store closures in the retailer’s Chapter 11 reorganization. Ranging in size from 6,000 to 28,000 square feet, the spaces being auctioned are situated in freestanding sites and retail centers. Many of the leases have five or more years remaining on the term. “The early interest reflects the fact that it’s rare to see so many good quality locations become available in major markets,” says Mike Matlat, senior …

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Party-City
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A&G to Auction Eight Party City Leases

by Hayden Spiess

New York City — A&G Real Estate Partners will auction eight Party City leases in its capacity as real estate advisor to the retailer. These leases — which include locations in Georgia, Iowa, Illinois, Louisiana, Michigan, New York, Texas and West Virginia — come in addition to 12 Party City leases announced for auction by A&G in late February. Ranging in size from 7,500 to 28,000 square feet, 18 total leases remain open. This move is part of Party City Holdco Inc. (PCHI)’s financial restructuring, which is expected to be …

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Primark
LeasingNew YorkNews

Primark Signs 54,562-Square-Foot Lease at Queens Center in New York City

by Hayden Spiess

New York City — Primark has signed a lease at Queens Center, a retail property located in the New York City borough of Queens. The Irish retail brand will occupy a 54,562-square-foot, multi-level space at the center, which is owned by Macerich. Other tenants at the property include Macy’s, abercrombie kids, Apple, Adidas, Champs Sports, Pandora, Sephora, Victoria’s Secret, Chick-fil-A, Shake Shack and The Cheesecake Factory.

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