SCHUCKMAN REALTY ARRANGES $130 MILLION SALE OF PORTFOLIO OF LONG ISLAND SHOPPING CENTERS
Portfolio of Grocery-Anchored Shopping Centers Involved in the Transaction.
Kenneth Schuckman of Schuckman Realty facilitates sale of $130 Million Portfolio of Shopping Centers in New York.
The Long Island trade area has long been a recession-resistant market that has proven to withstand the test of time, the pandemic induced migration back to the suburbs.”
ROCKVILLE CTR, NY, UNITED STATES, January 21, 2022 /EINPresswire.com/ -- Kenneth Schuckman, President & CEO of Schuckman Realty along with Aaron Malinsky of BTF Capital has arranged the sale of a portfolio of four grocery anchored neighborhood retail assets totaling approximately 400,000 square feet on Long Island, New York. All four properties sold for a total of $130 Million.— Kenneth R. Schuckman of Schuckman Realty
The purchaser, Regency Centers Corporation was represented by Jack deVilliers, Barry Argalas, and Greg Kalnit of Regency Centers. Serota Properties was the seller and was represented by Geoff Serota.
Regency now owns and operates 30 properties in the greater New York-New Jersey-Long Island trade area.
The properties are in East Meadow and Valley Stream in Nassau County and Wading River and Eastport in Suffolk County and are anchored by three King Kullen Supermarkets and one Stew Leonard’s. Collectively, the properties are 92 percent leased. Schuckman Realty will be exclusively leasing any remaining space in the four shopping centers.
“The Long Island trade area has long been a recession-resistant market that has proven to withstand the test of time,” says Kenneth R. Schuckman of Schuckman Realty. “The pandemic induced migration back to the suburbs has demonstrated that the suburban shopping center is here to stay.”
BTF Capital Fund LLC worked alongside of Schuckman Realty in providing development consulting services on both sides of the transaction. Aaron Malinsky, partner at BTF Capital with decades of grocery operational experience as well a seasoned shopping center developer, consulted on value-add opportunities on each of the assets.
About Schuckman Realty Inc.: Schuckman Realty is a full service commercial real estate services firm serving New York City, Long Island, New Jersey and the surrounding tri-state area. Schuckman has developed a reputation as a leading retail broker and developer in the New York Metro area, with special expertise in developments, redevelopments, and renovations in all Five Boroughs of New York City and Long Island. As a strategic planner of retail stores, shopping centers and boutique projects, Schuckman has been responsible for tens of millions of square feet of leasing and development and has been hired by numerous national retail chains to facilitate macro–market penetration. We attribute our success to our intimate team’s proficiency in market analysis and site planning, in addition to tireless dedication and extensive experience from both sides of the table
J. Pierce
Schuckman Realty Inc.
+1 516-496-8888
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