HEWLETT, NY—The circa 1959 Peninsula Shopping Center here has been sold to real estate investment and development firm Basser Kaufman of Woodmere, NY.
The 70,000-square-foot neighborhood shopping center was sold by Shelly Horne of HST Realty. No financial information in connection with the purchase was released. The property is anchored by what Basser Kaufman terms is a strong-performing Food Town Supermarket and a number of long-term retailers.
“We have exciting plans for the site, starting with an all-new façade and upgrades to the roof and parking area,” says Marc Kemp, principal of Basser Kaufman. “Given our extensive experience, and expert knowledge of and connection to the area, we are uniquely qualified to make this shopping center the best it can be for the community.”
Robert Goldfeder, director of leasing for Basser-Kaufman relates that the ne ownership has a local connection to its latest acquisition. “Steven Kaufman and Marc Kemp, the principals of Basser-Kaufman, live in the area and have frequented the Peninsula Shopping Center their entire lives,” he says. “We are very excited to own this property, and we plan to make improvements that will cater even better to the needs of the Five Towns community that the Peninsula Shopping Center has been serving for 50 years.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
