Asking Price Contact for pricing
Sq. Footage 130,000
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 2014

Property Description

Broadway Plaza is a 146,000 sf shopping center in Marble Hills, just north of Manhattan in the Bronx, and anchored by Aldi, TJ Maxx and Blink Fitness.

Investment Highlights

HFF, L.P. (“HFF”) has been exclusively retained to arrange the sale of Broadway Plaza (the “Property”), a prominent, grocery-anchored shopping center consisting of 147,366 square feet in the heart of the highly residential Marble Hill / Kingsbridge neighborhoods of the Bronx. The Property is 97.2% leased to a complementary tenancy including Aldi, TJ Maxx, Blink Fitness, Five Below and Starbucks, among others. Delivered in 2014 and benefiting from a 25-year ICAP, the Property is easily accessible via local transportation within the Bronx and the greater NYC Metro Area, providing superior accessibility to the center by subway, bus, or car. The Property offers stable, long-term cash flow with 100% of in-place tenants having term through at least September 2024 (WALT 7.3 Years), alongside significant contractual rent growth and additional extension options. The Property benefits from an unmatched, infill location boasting robust demographics within one of the most densely populated boroughs in the NYC Metro, and is surrounded by some of the top private schools in New York City as well as the James J Peters VA Medical Center. An offering of this scale in a New York City borough is a rarity and the Property’s strong tenant mix and transit-friendly location in a highly occupied submarket provide the foundation for sustained long-term value appreciation.
Rob Rizzi
Rob Rizzi
Managing Director
Jose Cruz
Jose Cruz
Senior Managing Director Co-Head

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