Ashkenazy Acquisition Corporation, owned by Ben Ashkenazy, said Thursday it had acquired The Shops at Atlas Park in the Glendale neighborhood of Queens from Macerich and a partner. Although the purchase price was not disclosed, Crain’s New York Business cited an estimate of $70 million for the property’s value.
Located on 12 acres of land with 1,400 parking spaces, the 374,000-square-foot open-air lifestyle center is home to a variety of retailers, restaurants and entertainment tenants. It joins other retail assets in the Ashkenazy portfolio including Bayside Marketplace in Miami, Shops at Rivercenter in San Antonio, Shops at the Bravern in Seattle, Beverly Connection in Los Angeles, Cross County Mall in Yonkers, NY and Vernon Hills in Eastchester, NY.
“We are excited to enhance and upgrade this extraordinary property into a best-in-class lifestyle center, similar to many lifestyle centers Ashkenazy owns, including Vernon Hills Center in Westchester County,” said Joe Press, COO of Ashkenazy Acquisition Corporation.
More than 15 lenders bid on the acquisition financing. ACORE CAPITAL was the winner and supplied the financing.
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