The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at more than $2.5 billion, has announced the acquisition of two retail buildings at Garden City Square, a 17-acre mixed medical office and retail project, located at 711 Stewart Avenue in Garden City, N.Y., from Metropolitan Realty Associates (MRA) and its joint-venture partner Angelo, Gordon & Co., LP.
Comprised of the two buildings, Garden City Square’s retail component totals 176,000 square feet and is currently 100 percent occupied by two long-term tenants, BJ’s Wholesale Club and LA Fitness. In addition to its retail space, Garden City Square contains 117,500 square feet of medical office space, with tenants including Nassau Radiology Group (NRAD), the Endoscopy Center of Long Island, Cardiovascular Medical Associates, and the Ophthalmic Consultants of Long Island (OCLI). Garden City Square is conveniently located directly adjacent to the Roosevelt Field Mall and is easily accessible from the Meadowbrook Parkway.
“The long term, existing leases with major, industry-leading retailers made this an attractive investment,” said Robert Schmitt, Fund Manager at The Hampshire Companies. “In addition, the property’s proximity to Roosevelt Field, New York’s second-largest, high-end shopping mall, helps to attract a strong base of valuable retail traffic.”
Jeffrey Dunne and David Gavin of CBRE represented both Hampshire and the seller.
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 www.HampshireRE.com.
R&J Public Relations