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1775 South AveStaten Island, NY 10314
West Shore Plaza
250,000+ Square Foot Institutional Grade New York City Shopping Center
Overview
Rare opportunity to acquire an institutional-grade, Burlington-anchored New York City shopping center spanning 250,000+ square feet on 15+ acres, 98%+ occupied, and complemented by a dynamic junior anchor roster including Restaurant Depot, Planet Fitness, Dollar Tree, and Chuck E. Cheese
Investment Highlights
- SECURE, LONG-TERM INCOME: High occupancy center with WALT of 6 years 8 months. Mix of national, local, and government long standing tenants, most with base term increases and options
- STRATEGIC LOCATION: Direct access to New Jersey, Brooklyn, and the broader New York City boroughs, the site benefits from exceptional regional connectivity, strong commuter traffic, and a central position within one of Staten Island’s most active retail corridors
- PRICING & YIELD: Offered at $70,000,000 reflecting a 6.52% Capitalization rate on current net operating income
- REGIONAL RETAIL POSITIONING: The property sits within a proven Staten Island retail corridor surrounded by major retail nodes including Staten Island Mall, Richmond Shopping Center, and Pergament Shopping Center, reinforcing long-term consumer draw and tenant relevance
- EXPERIENTIAL RETAIL COMPONENT: Over 30,000 square feet dedicated to Chuck E. Cheese (top 5 store in the chain according to Placer.ai, The Dink Den, a high quality built out indoor pickleball facility, and GolfCave, a high quality built out indoor golf simulator
- NATIONAL TENANT MIX: Anchored by Burlington on a corporate guaranty, with Restaurant Depot, Planet Fitness, and Dollar Tree as junior anchors
- HIGH BARRIERS TO ENTRY: Rare opportunity to acquire a 256,488 square foot shopping center on 15.64 acres within New York City, where parcels of this scale and functionality are exceptionally difficult to replicate
- BURLINGTON UPSIDE: Burlington currently pays just $8.75/ SF, materially below market, while occupying substantially more square footage than its latest concept requires. A future downsizing to approximately 40,000 SF, coupled with a new long-term lease at market rent, would create meaningful upside through mark-to-market rent growth and the ability to backfill the balance with one 40,000 SF box or two 20,000 SF boxes, an approach Burlington and prospective tenants have both shown interest in
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1775 South AveStaten Island, NY 10314
Sales Team
Listing provided by LightBox Revere