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Blackstone Under Contract to Sell Queens Retail for $425M
Blackstone has gone under contract to sell The Shops at Skyview in Flushing, Queens to a joint venture of TPG Real Estate and Acadia Realty Trust for about $425 million, Bloomberg News reported. Part of a larger mixed-use complex that also includes 1,200 apartments and 50,000 square feet of medical office, the 558,681-square-foot shopping center is less than a mile from the site of a proposed casino, for which New York Mets owner Steve Cohen has won preliminary state approval.
The Shops at Skyview went on the market this past summer. Newmark’s Adam Spies, Adam Doneger and Ben Lushing are representing Blackstone in the sale, reported Bloomberg.
Blackstone owns the nearly fully leased shopping center, located at 40-24 College Point Blvd., through its Perform Properties unit. BJ’s Wholesale Club, Burlington, Marshalls, Nike Clearance Store, Sephora, Sky Foods and Uniqlo are among the major tenants.
- ◦Sale/Acquisition

