NEW YORK, NY – September 8, 2022 – Ariel Property Advisors has been retained exclusively to market for sale West Shore Plaza, a 255,000 SF retail shopping center situated on 17.86 acres at 1745 South Avenue, just off the West Shore Expressway in Staten Island.
An Ariel team comprised of Sean R. Kelly, Partner, Victor Sozio, Founding Partner, Michael A. Tortorici, Founding Partner, and Amanda Bukobza, Director, Investment Sales, is requesting proposals on behalf of ownership.
“West Shore Plaza is a shopping center with a 92.5% occupancy rate and has consistently performed well for our client,” Kelly said. “Over the past 20 years it has had minimal vacancy and offers a roster of long-term tenants, some of which have been operating here for more than 20 years. The shopping center also offers tremendous upside, as new and planned developments are contributing to an industrial renaissance on the West Shore of Staten Island.”
West Shore Plaza is home to a healthy mix of national, regional and local tenants. Anchored by Burlington Coat Factory, Restaurant Depot and the Department of Motor Vehicles, other tenants include Planet Fitness, Dollar Tree Stores, Chuck E Cheese and Jewish Board of Family & Children Services Inc.
West Shore Plaza’s location offers great visibility as well as easy access to the West Shore Expressway, Staten Island’s major north south artery. The shopping center also is within one mile of four new industrial development projects totaling more than 5 million SF including Matrix Development’s Amazon and IKEA fulfillment centers. Additionally, a 52 acre development site across from West Shore Plaza was recently acquired by an industrial developer.
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the NY metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry.
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The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein.