PLAZA 44
PROPERTY DETAILS
- 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
| Asset Class | Retail |
| Property Size | 170,000 SF |
| Investment Status | Long Term Hold |
| Forecast Deal IRR | 17.6% |
| Forecast Deal EM | 2.03X |
| Year Acquired | 2014 |