PCCP, LLC has recently provided a $36 million senior loan to Agus Holdings for the purchase of The Hub Shopping Center. This 248,569-square-foot retail center is located at 132 to 178 Fulton Ave in the Town of Hempstead on Long Island. With an impressive tenant roster including Home Depot, Stop & Shop, Old Navy and AT&T, the property boasts a high occupancy rate of 99%.
According to Brian Haber, managing director with PCCP: “This presents an excellent opportunity for financing a profitable shopping center in one of Long Island’s most densely populated areas. The open-air retail market here is over 97% leased and there has been no significant new supply added in nearly two decades.”
Spanning across approximately 28 acres and situated just east of Manhattan within Nassau County on Long Island’s eastern end; this property offers direct frontage along Fulton Avenue as well as easy access to major east-west thoroughfares that traverse through the island. Additionally,the surrounding area boasts a population density with over half-a-million residents living within just ten minutes’ drive.
Photo courtesy Breslin Realty.
The article titled “PCCP Provides Acquisition Loan on Hempstead Retail Center” was originally published by Connect CRE.
