The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2 billion, has announced the acquisition of Hudson Valley Plaza, a two-tiered 673,379-square-foot retail property located at 401 Frank Sottile Boulevard in Kingston, N.Y., from Pyramid Property Group.
Adjacent to the Hudson Valley Mall, Hudson Valley Plaza is the area’s dominant retail power center, anchoring a retail hub that serves roughly 700,000 people. Situated on more than 43 acres at the junction of Route 209 and 9W, the area’s primary retail corridor, Hudson Valley Plaza is anchored by major retail tenants including Wal-Mart Supercenter, Lowe's Home Improvement Warehouse and Sam's Club. Ninety-eight percent leased, the plaza's additional tenants include Michael's Arts and Crafts, Petsmart, Gander Mountain, and Toys ‘R Us.
"With three strong-credit, national tenants anchoring the space and providing a loyal customer base, this was an excellent opportunity to expand our retail portfolio," said Rob Schmitt, a Principal of The Hampshire Companies. "In addition to the plaza's high occupancy rate, the property's premier location in a highly traveled, densely populated area added additional benefit."
Chris Phaneuf, Senior Vice President of Eastdil Secured, represented both the seller and Hampshire in the transaction.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at HampshireRE.com.
R&J Public Relations