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 132-178 Fulton Ave in the Town of Hempstead on Long Island. Boasting a tenant roster that includes major brands such as Home Depot, Stop & Shop, Old Navy and AT&T, the property currently maintains an impressive occupancy rate of 99%.
According to Brian Haber, managing director at PCCP: “This presents an excellent opportunity for us to finance a thriving shopping center in one of Long Island’s most densely populated areas. With over 97% occupancy in the open-air retail market and no significant new developments added in almost two decades.”
The Hub sits on approximately 28 acres with direct frontage along Fulton Avenue and easy access to major east-west thoroughfares connecting all corners of Long Island. Its prime location within Nassau County places it just thirty miles from Manhattan and surrounded by a population base exceeding half-a-million residents within ten minutes’ drive.
Photo courtesy Breslin Realty.
This article was originally published on Connect CRE website.
