 |
| The Shoppes at South Hills, 1895 South Road (Route 9), Poughkeepsie, NY |
 |
| Jose Cruz |
FLORHAM PARK, NJ – HFF announced it has closed the $48.3
million sale of The Shoppes at South Hills, a 516,769-square-foot
grocery-anchored retail power center in south Poughkeepsie, New York.
HFF
marketed the property on behalf of the seller.
DLC Management Corporation purchased the asset free and clear of
existing debt.
The Shoppes
at South Hills sits on approximately 72.6 acres at 1895 South Road (Route 9),
which has an average vehicle count of 40,000 per day.
The center is at
the intersection of South and Vasser Roads in a suburban area of south
Poughkeepsie, which sits on the Hudson River and is approximately 80 miles
south of Albany and 83 miles north of New York City.
The site is the
former South Hills Mall, which was partially demolished and redeveloped between
2007 and 2008 into a power center that is 86 percent leased to Shop Rite,
Christmas Tree Shops, Ashley Furniture Home Store, Hobby Lobby, Burlington Coat
Factory, Kmart, Bob’s Discount Furniture, Chuck E. Cheese’s and Weight
Watchers.
 |
| Kevin O'Hearn |
The HFF investment sales team representing the seller was
led by senior managing director Jose Cruz, managing director Kevin
O’Hearn, senior real estate analyst Marc Duval and supported by
senior managing director Andrew Scandalios.
“With
this transaction, DLC has acquired one of the leading power centers in the Hudson
Valley,” Cruz said.
DLC Management Corporation (DLC) is one of the nation’s
preeminent private retail real estate companies, with expertise in
acquisitions, new developments, redevelopments, leasing, and management.
Headquartered in New York with regional
offices in Atlanta, Bethesda, and Chicago, SH DLC owns and/or operates 116
assets totaling 19.6MM square feet. For additional information, please visit
www.dlcmgmt.com.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
No comments:
Post a Comment