**Ashkenazy Acquisition Corporation Purchases The Shops at Atlas Park in Queens**
Ashkenazy Acquisition Corporation, led by Ben Ashkenazy, has acquired The Shops at Atlas Park, located in the Glendale neighborhood of Queens, New York. The transaction was finalized with the sale by Macerich and a partner, although the official purchase price remains undisclosed. According to Crain’s New York Business, the property is estimated to be valued around $70 million.
Spanning 12 acres and featuring 1,400 parking spaces, the 374,000-square-foot open-air lifestyle center houses a broad mix of retail, dining, and entertainment tenants. This acquisition adds to Ashkenazy’s growing portfolio of retail properties nationwide, which includes Bayside Marketplace in Miami, Shops at Rivercenter in San Antonio, Shops at the Bravern in Seattle, Beverly Connection in Los Angeles, Cross County Mall in Yonkers, NY, and Vernon Hills in Eastchester, NY.
“We are excited to enhance and upgrade this extraordinary property into a best-in-class lifestyle center, similar to many lifestyle centers Ashkenazy owns, including Vernon Hills Center in Westchester County,” said Joe Press, Chief Operating Officer of Ashkenazy Acquisition Corporation.
The acquisition financing attracted interest from over 15 lenders. ACORE Capital ultimately secured the winning bid and provided the financing for the deal.
The Shops at Atlas Park is expected to undergo upgrades as part of Ashkenazy’s strategy to revitalize and elevate the retail destination.
