High-rise commercial buildings

Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New York & Tri-State  + Fairfield/Westchester  + Retail  | 

Kite Realty Trust Trades Grocery-Anchored White Plains Retail for $50M

JLL Capital Markets secured the $50-million sale of City Center, a 361,948-square-foot, grocery-anchored retail property located in White Plains. on behalf of seller Kite Realty Trust. JLL also arranged acquisition financing in the amount of $39.2 million from a regional bank on behalf of the buyer, PropUp Group.

Located at 5 Mamaroneck Ave. in downtown White Plains, City Center is anchored by ShopRite Additional anchor and junior anchor tenants include Burlington, Nordstrom Rack, New York Sports Club and Apple Cinemas, a 15-screen movie theater. The property also includes 24 affordable apartment units.

The JLL Capital Markets Investment Sales and Advisory team was led by Kevin O’Hearn, J.B. Bruno and Jose Cruz. “White Plains is a phenomenal submarket and only getting better with more luxury residential and mixed-use developments underway,” said O’Hearn. “This led to a tremendous response for this grocery anchored, multi-level urban asset, and we’re excited to see where the buyer takes it.”

Read More News Stories About: JLL
Connect

Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition