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New York & Tri-State  + Long Island  + Finance  | 

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.

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Inside The Story

PCCP's Haber

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
  • ◦Financing
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