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New York & Tri-State  + Fairfield/Westchester  + Retail  | 
Steve Plenge is CEO of Pacific Retail Capital Partners

Newly Formed JV Will Reshape White Plains’ Galleria Mall

Pacific Retail Capital Partners (PRCP) and Aareal Bank, owner of The Galleria at White Plains, have formed a new joint venture with SL Green Realty Corp. and the Cappelli Organization, both prominent players in Westchester County. The JV will create a strategic vision for transforming the 870,000-square-foot downtown shopping center. 

“This is one of the most exciting mixed-use development sites in the New York Metro Area,“ said Steve Plenge, CEO of PRCP. “We have worked over the past few years to acquire the Macy’s fee interest at the site, along with the leasehold interest of the former Sears. Working with our new partners, we will reimagine the site as a vibrant mixed-use project that will be centered on residential development and amenity-based retail.” 

The Cappelli Organization’s Louis Cappelli added, “The reimagining of this property is integral to the dramatic transformation of downtown White Plains that is well underway.” 

Pictured: Steve Plenge.

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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 13-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 15-20 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).

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