Tag: retail real estate

A new ALDI grocery store is slated to open in Carle Place next month. 

The new 21,000-square-foot store in the Parkway Plaza shopping center at 225 Glen Cove Road is scheduled to open at 9 a.m. on Thursday, Jan. 5. 

The space was formerly occupied by Stew Leonard’s Wines and Spirits. 

The Carle Place ALDI will be the growing chain’s 12th Long Island location. 

To celebrate the opening of the new store, the first 100 customers at the Carle Place location will receive a gift card as part of the ALDI Golden Ticket gift card giveaway program. Shoppers can also enter a sweepstakes for a chance to win a $500 ALDI gift card through opening weekend, from Jan. 5 to Jan. 8. 

“Our stores are designed to make grocery shopping smarter, faster and easier, and we’ve been voted the price leader for five years running,” Chris Daniels, South Windsor regional vice president for ALDI, said in a company statement. “We have served this community for more than 10 years and are excited to continue to offer Carle Place residents an affordable way of shopping.” 

Jeremy Isaacs of RIPCO Real Estate represented ALDI, as well as the landlord, Brixmor Property Group, in the Carle Place lease transaction. 

A new Chick-fil-A restaurant is proposed for a former car dealership property in Levittown. 

Frontstead Land LLC has applied to the Town of Hempstead to remove restrictions on the 2.48-acre parcel at 3859 Hempstead Turnpike to allow for construction of the new restaurant. 

The applicant is seeking the town’s approval to demolish an 11,298-square-foot building and a 1,342-square-foot on the property on the northwest corner of Hempstead Turnpike and Berger Avenue. Frontstead Land wants to build a 5,226-square-foot Chick-fil-A restaurant with a double-lane drive-thru and parking for 109 vehicles. 

The Levittown property had been the long-time home of a Honda City auto dealership. In 2018, Honda City purchased 3 acres from Zorn’s of Bethpage at 4333 Hempstead Turnpike in Bethpage, where it has since built a new dealership complex.  

The proposed Levittown restaurant is the latest in Chick-fil-A’s ongoing Long Island expansion. Earlier this month, the chain opened its eighth Long Island location, a 5,000-square-foot restaurant at 200 E. Jericho Turnpike in Huntington Station. 

Three new tenants are replacing the long-vacant Outback Steakhouse space at the re-imagined Huntington Commons retail complex, as the center’s new ShopRite supermarket opens this weekend. 

The former 7,300-square-foot restaurant space will soon be the home of CycleBar, GOLFTEC and iStretchPlus, creating a new health-and-fitness destination at the New York Avenue center owned by Urban Edge Properties. 

The property once known as the Big H shopping center has been undergoing a $31 million renovation and a refresh of its tenant roster. A 65,000-square-foot ShopRite, slated to open Sunday, Dec. 11, will be the new grocery anchor for Huntington Commons, taking up most of the 102,000 square feet vacated by Kmart when it closed in 2019. 

CycleBar, an indoor cycling studio, leased 2,474 square feet; GOLFTEC, which offers golf lessons and instruction, leased 2,819 square feet; and iStretchPlus, a stretching and fitness concept, leased 2,002 square feet. 

“This location offers terrific one-stop shopping opportunities so that our members can come in for a ride, go to Petco for pet supplies, drop by Old Navy or Marshall’s for some clothes shopping, head over to Home Depot for some needed supplies and end up at Tommy Taco’s to bring dinner home,” Robert Hand, owner of CycleBar, said in a written statement. “What I am most looking forward to when we open is building a family style atmosphere in the studio with our members.” 

Chad Covak, vice president of Real Estate at GOLFTEC, said the “the visibility and access from New York Avenue and the renewed energy within the center” drew the company to set up shop at Huntington Commons. 

James Haas, owner of iStretchPlus, said the remodeled retail center is “geographically perfect” to serve residents of Huntington and surrounding communities. 

“We are very excited to be part of this makeover and pleased that our services will be a nice complement to the services offered by our soon-to-be neighbors GOLFTEC and Cyclebar,” Haas said. “Together we will deliver that sporty, athletic and wellness feel that has been missing from the center.” 

The adjacent 3,938-square-foot space last occupied by Sterling Bank at the Huntington Commons pad site is still available. 

Dan Glazer of RIPCO Real Estate represented CycleBar, Faronn Roboff of Royal Properties represented GOLFTEC and iStretchPlus was self-represented, while Glazer and his RIPCO colleagues Tom Rettaliata and James Valenti represented Urban Edge in the lease transactions. 

“Urban Edge’s revamping of the former Big H shopping center, now called Huntington Commons, is an impressive transformation and a continued improvement to the area,” Glazer said. “These new tenants are sure to attract more visitors to the revitalized complex.” 

Two Checkers restaurants that have been closed since March will be reopening under new ownership. 

Uni LLC, a franchise group headed by Paramjit Josan and Manjit Singh have signed ground leases for the pad sites that have Checkers restaurants at 7 Wheeler Road in Central Islip and 1825 Brentwood Road in Brentwood. 

Each of the restaurants are 1,100 square feet with double drive-thru windows. They were previously operated by a Checkers franchisee who is no longer in business. 

The new franchisees, who operate several restaurant concepts including Checkers sites in Queens, Nassau and Suffolk counties, are investing capital into refurbishing both sites and plan to have a grand opening within the next few months. 

Roger Delisle of Island Associates Real Estate brokered the ground lease transactions. 

437 Walt Whitman Road Melville / Google Maps image

A retail property in Wantagh has sold for $5.275 million. 

Bellmore-based MGD Investments purchased the 13,300-square-foot strip center on 1.15 acres at 3330-3348 Jerusalem Ave. 

The five-store property is fully occupied and anchor tenant Kwong Ming restaurant, which occupies 5,300 square feet, has been operating here for more than 60 years. 

The sale price equates to a 6.25 percent cap rate. 

New owner MGD Investments plans a “total renovation” of the property to begin next year. 

MGD was self-represented by its principal Larry Weinberger, while the seller, 635 Wantagh Realty, was also self-represented in the sales transaction. 

“I am excited to work on this site as the merchants have been a part of the community for a very long time and have done well even though the property is sorely in need of updating,” Weinberger said. “It will be exciting to see the progress they can make as the site will be much more welcoming when renovated with attractive new curb appeal.”   

Two new tenants will be coming to the Sayville Plaza shopping center in Bohemia. 

Christmas Tree Shops leased about 38,000 square feet at the center and Boot Barn leased about 10,000 square feet. 

For Christmas Tree Shops, which offers housewares, furniture, year-round seasonal décor, party goods, and more, the Sayville Plaza store will be its second Long Island location, joining one in The Arches in Deer Park.  

The Sayville Plaza store for Boot Barn will be the national chain’s first on Long Island and first in New York. The retailer specializes in western wear, work boots, cowboy hats, shoes, outdoor gear and accessories. 

The two new stores join a Sayville Plaza tenant roster that includes Old Navy, Panera Bread, Bed, Bath & Beyond, The Vitamin Shoppe, Chipotle Mexican Grill and F45 Fitness.

Ken Breslin of Breslin Realty Development Corp. represented Christmas Tree Shops and Kyle Rottenberg of Bialow Real Estate represented Boot Barn, while Robert Delavale served as in-house representative for landlord Breslin Organization in the lease transactions. 

Piano maker Steinway & Sons will soon relocate its Long Island showroom to Manhasset. 

Steinway leased a 2,754-square-foot retail space at 1488 Northern Blvd. The new showroom is expected to open early next year. 

The company will be closing its current showroom at 505 Walt Whitman Road in Melville, where the recently sold property is headed for redevelopment. 

Steinway’s future home is located within a 12,928-square-foot retail center that has Huntington Learning Center and Sandro’s Italian restaurant as tenants. 

Robert Kuppersmith and Connor Sullivan of Cushman & Wakefield represented the tenant, while Stuart Bayer of Douglas Elliman Real Estate represented the landlord, Sol G. Atlas Realty, in the Manhasset lease transaction. 

“We are thrilled to have found a premier space for Steinway & Sons in this strategically located retail center that offers exceptional visibility along Northern Boulevard,” said Kuppersmith. 

A retail property in Hauppauge has traded for $2.35 million. 

Dan Flynn, a Long Island-based real estate investor, purchased the 5,300-square-foot building on .66 acres at 676 Motor Parkway. 

The five-store strip center is fully occupied. 

The sale price equates to a 5.9 percent cap rate. 

The buyer was self-represented, while Stephen Preuss, Kevin Schmitz, Kevin Louie and Andreas Efthymiou of RIPCO Real Estate represented the seller, Hildreth Real Estate Advisors, in the sales transaction. 

Noodles & Company, which had closed four of its five Long Island franchised locations, is coming back to the area with new corporate-owned restaurants. 

The Colorado-based fast-casual chain leased a 2,500-square-foot space in the Republic Plaza shopping center in Farmingdale, formerly occupied by Blaze Pizza. 

New Jersey-based franchisees Doherty Enterprises, which has the Panera Bread and Applebee’s franchises here, had previously rolled out five Noodles & Co. locations on Long Island, but closed four of them and the fifth one in the Gallery at Westbury Plaza, the chain’s only remaining Long Island location, is now a corporate-owned restaurant. 

Sources say the Farmingdale location is the first of several corporate-owned Noodles & Co. restaurants that will be opening on Long Island in the near future. Doherty had owned the chain’s former Farmingdale location, which was in Airport Plaza. 

Brian Schuster and Tom Rettaliata of RIPCO Real Estate represented Noodles & Co., while Robert Delavale served as the in-house representative for landlord Breslin Organization in the Republic Plaza lease transaction. 

Lookable, a new eyewear chain, is opening four stores on Long Island. 

The chain has just opened a store at 135 Deer Park Ave. in Babylon and another at 3251 Sunrise Highway in Wantagh. 

Two other Lookable locations will open soon at 2324 Merrick Road in Merrick and at 83 W. Main St. in Smithtown. 

The Lookable chain is operated by LION Management Service Organization, which also manages a network of optometrist groups on Long Island. 

Lookable stores use virtual technology for contactless and comprehensive vision tests and offer a wide variety of name-brand frames that can be shipped directly to customers. The stores also offer on-demand tele-optometry and contact lens fittings. 

“We are thrilled to be launching the first Lookable stores after conceiving the idea only a year ago.  The industry has been stuck in outdated methods and technology, and the consumer deserves better,” James Vena, founder of Lookable and CEO of Lion Management Service Organization, said in a company statement. “Lookable allows the optometrist to focus on patient care and remove them from the retail business which gives the customer more freedom and selection.” 

Marissa Cosentino of Scout Realty Group represented Lookable in the Babylon, Wantagh, Merrick and Smithtown lease transactions. 

“It has been very exciting seeing this innovative concept come to life,” Cosentino said. “Always a pleasure working with the LION team. I wish them good luck and endless success for the years to come.” 

Sweetgreen, a growing fast-casual restaurant concept, will open its first Long Island location in Garden City on Tuesday. 

The 2,600-square-foot restaurant, which has seating for 26 people outside and another 18 outside, is located at 191 Seventh St. 

To celebrate its opening, Sweetgreen will donate a meal to Island Harvest for every meal sold on Tuesday, Oct. 18. The chain offers a menu focused on salads and bowls and currently features a fall menu, including a Curry Cauliflower Bowl and Buffalo Cauliflower side dish with regionally sourced cauliflower from upstate New York’s Turek Farm.   

Publicly traded Sweetgreen was founded in 2007 when it opened its first restaurant in Washington D.C. and now has more than 160 locations. On Long Island, Sweetgreen has signed leases for restaurants in Woodbury and Manhasset and is working on several other locations in the area. 

The company reported Q2 2022 revenue of $124.9 million, a year-over-year increase of 45 percent. However, the company also reported a second-quarter net loss of $40 million. 

Brian Schuster and Tom Rettaliata of RIPCO Real Estate represented Sweetgreen, while their RIPCO colleague Jason Sobel represented landlord Domus Green LLC in the Garden City lease transaction. 

After acquiring four Long Island shopping centers late last year, Regency Centers has purchased another. 

The Jacksonville, Fla.-based real estate investment trust bought East Meadow Plaza, an 11.16-acre retail complex at 1900 Hempstead Turnpike for $30 million. The property has 132,332 square feet of retail space and a five-story, 72,816-square-foot office building. The retail portion is 64 percent occupied, while the office building is 51 percent occupied.

At the end of 2021, Regency purchased four Long Island shopping centers from Serota Properties for $130 million. Those included the 90,000-square-foot Wading River Commons on Route 25A in Wading River; the 99,000-square-foot King Kullen Shopping Center on West Merrick Road in Valley Stream; the 45,466-square-foot King Kullen-anchored center on Eastport Manor Road in Eastport; and the 140,000-square-foot Stew Leonard’s Plaza on Front Street in East Meadow, which borders the East Meadow Plaza property. 

Regency plans to reposition East Meadow Plaza by connecting it to Stew Leonard’s Plaza. The new owner’s plans could include razing the existing office building, sources say. 

Built in 1971, East Meadow Plaza was owned by the Weiss family, which runs Kurt Weiss Greenhouses, headquartered in Center Moriches. Wayne Weiss, a company vice president and fourth generation member of the business, said the East Meadow center was once a farm owned by his great grandfather Otto Muller that grew azaleas and other landscaping flora dating back more than 100 years. 

When he was a child, Weiss lived in a farmhouse on the property, which briefly raised chickens during the 1940s to support the war effort. Besides their main location in Center Moriches, the family owns land in Florida, New Jersey, Pennsylvania and about a half-dozen sites on Long Island, which have wholesale greenhouse operations that produce bedding plants, flowers and poinsettia for the Christmas season. 

Besides its most recent acquisitions, Regency already owned several Long Island retail properties, including the 104,616-square-foot center called The Point at Garden City Park; the 141,382-square-foot Lake Grove Commons; the 312,316-square-foot Gallery at Westbury Plaza; and the 52,729-square-foot Hewlett Crossing. The REIT owns more than 400 retail properties totaling more than 58 million square feet in 24 states and Washington D.C.   

The East Meadow Plaza sale was brokered by Kyle Burkhardt, Patrick Ciancimino, Dan Abbondandolo, Joegy Raju and Victor Little of Cushman & Wakefield, who represented seller 1900 Hempstead Tpke LLC. 

“Thanks to our well executed marketing campaign and bid process, we were able to identify the most secure buyer in a very fickle market,” Abbondandolo said. “Regardless of volatile debt markets and rising inflation rates, the asset’s location and reposition potential made this a very accretive acquisition for Regency.” 

EXCLUSIVE: After walking away from a planned $200 million mixed-use redevelopment of the former Sears property in Hicksville, Seritage Growth Properties is selling the site. 

Bethpage-based Steel Equities has outbid several other Long Island development firms and is now in contract to buy the 26.4-acre property. 

Real estate industry sources say the sale price for the development site at 195 North Broadway is north of $52 million. 

Seritage, the real estate investment trust spun off by Sears Holdings in 2015, had planned to transform the former department store property into a mixed-use development with 425 rental apartments, retail and office space, restaurants, a grocery store, cinema, fitness center and food-service kiosks for the project dubbed Heritage Village. 

The Seritage project had been slowly working its way through the approvals process, with the Town of Oyster Bay last holding a public hearing on the plan in Sept. 2020. But seven months later, the company put the project on pause and the executive who headed the plan exited. 

At the time, Seritage issued a statement that it was pausing the Heritage Village project “to ensure it is consistent with market conditions, our own realigned goals and business objectives, and reflects our discussions with community and government leaders.” The statement added that “COVID has clearly altered the landscape for the entire real estate industry.” 

Eventually, Seritage put the Hicksville site on the market and began fielding offers from other developers. The property was being marketed by Jose Cruz, J.B. Bruno and Ryan Robertson from JLL, but the brokers declined to comment on the sale. 

Steel Equities has purchased two other former Sears properties on Long Island in recent years. The company paid $28 million for the 225,000-square-foot Sears department store at the Smith Haven Mall in Lake Grove, which it later leased to Stony Brook Medicine. Steel also acquired the former Sears store on Franklin Avenue in Garden City that it leased to NYU-Langone. 

Steel has not yet revealed what it plans for the Hicksville property.