- Capstone acquired a 96% leased grocery-anchored community shopping center that was developed and owned by Kimco since the 1970s.
- The 167,686 SF shopping center is located at 15 Burnett Boulevard in Poughkeepsie, NY.
- The top three tenants, Stop & Shop, Big Lots, and Dollar Tree comprise 68.7% of the total gross leasable area (“GLA”) and 69.8% of the base rental income, and 80% of the total center will be occupied by tenants that have been in occupancy for more than 10 years
|Property Size||170,000 SF|
|Investment Status||Long Term Hold|
|Forecast Deal IRR||17.6%|
|Forecast Deal EM||2.03X|