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PCCP Provides Acquisition Loan on Hempstead Retail Center
PCCP, LLC provided a $36-million senior loan to Agus Holdings to acquire The Hub Shopping Center, a 248,569-square-foot shopping center located at 132 to 178 Fulton Ave. in the Town of Hempstead on Long Island. The property is 99% occupied with a tenant roster including Home Depot, Stop & Shop, Old Navy and AT&T.
“PCCP believes this is a compelling opportunity to finance a cash-flowing shopping center in a densely populated region of Long Island, where the open-air retail market is over 97% leased and no meaningful new supply has been added in nearly 20 years,” said Brian Haber, managing director with PCCP.
Situated on 28 acres, the property is approximately 30 miles east of Manhattan in Long Island’s Nassau County and has direct frontage along Fulton Avenue and proximity to the east-west thoroughfares that traverse Long Island. The area surrounding The Hub is densely populated with 460,000 residents within a 10-minute drive.
Photo courtesy of Breslin Realty.
- ◦Sale/Acquisition
- ◦Financing

