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New York & Tri-State  + Outer  + Retail  | 

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.

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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
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