**Blackstone Set to Sell The Shops at Skyview in Queens for $425M**
Blackstone has entered into a contract to sell The Shops at Skyview in Flushing, Queens, for approximately $425 million. According to Bloomberg News, the buyers are a joint venture between TPG Real Estate and Acadia Realty Trust.
Located at 40-24 College Point Boulevard, the 558,681-square-foot shopping center is part of a larger mixed-use complex that includes 1,200 residential units and 50,000 square feet of medical office space. The property is situated less than a mile from the proposed site of a casino, which recently gained preliminary state approval and is backed by New York Mets owner Steve Cohen.
The Shops at Skyview was placed on the market earlier this summer. Newmark is handling the sale on behalf of Blackstone, with brokers Adam Spies, Adam Doneger, and Ben Lushing leading the effort.
Blackstone owns the property through its Perform Properties unit. The center is nearly fully leased with major tenants including BJ’s Wholesale Club, Burlington, Marshalls, Nike Clearance Store, Sephora, Sky Foods, and Uniqlo.
