Kimco Realty has acquired a family-owned portfolio of eight Long Island, NY shopping centers for $375.8M. The seller was not disclosed.
The portfolio includes The Gardens at Great Neck, Woodbury Common, The Market Place, Stop & Shop Shopping Center, Green Cove Plaza and Syosset Corners in Nassau County and Sequams Shopping Center in Suffolk County.
The portfolio is 94.4% leased with significant mark-to-market and merchandising enhancement opportunities, Jericho-based Kimco said in a release. Five of the shopping centers in the portfolio of grocery-anchored. The portfolio features a strong collection of necessity-based tenants and retailers, including TJMaxx, GoHealth Urgent Care, Rite Aid, Starbucks, Dunkin' Donuts, and Chipotle.
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