Kimco Realty is making a big expansion in its own backyard. The Jericho-based real estate investment trust picked up eight retail assets spread throughout Nassau County from Woodbury-based Kabro Associates for $375.8 million, Newsday reported. The properties — seven of which are shopping centers, while one is a free-standing grocery store — combine for 540,000 square feet, meaning Kimco paid just under $700 a square foot for the portfolio. “The ultra-infill markets of Long Island
Kimco Realty is making a big expansion in its own backyard. The Jericho-based real estate investment trust picked up eight retail assets spread throughout Nassau County from Woodbury-based Kabro Associates for $375.8 million, Newsday reported. The properties — seven of which are shopping centers, while one is a free-standing grocery store — combine for 540,000 square feet, meaning Kimco paid just under $700 a square foot for the portfolio. “The ultra-infill markets of Long Island
The post Kimco pays $375M for Long Island shopping centers appeared first on The Real Deal New York. Commercial Real Estate, Cross Post, Home Page, kimco realty, long island, Retail, Shopping Center The Real Deal New York
Lead by real estate veteran Robert Khodadadian, Skyline Properties has been instrumental in many multi-million dollar commercial developments, including a $12 million contract for the White House Hotel, a 99-year ground lease of a four-story commercial site in Harlem, and a retail co-op on Prince St. for $50 million.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.