Blackstone Acquires Brooklyn Shopping Center For $130M

A shopping center located at 8925 Avenue D in Brooklyn has been sold for $130,000,000. The property spans across 274,000 square feet, resulting in a price per square foot of $474. The transaction took place on December 11, 2019, and the buyers were Blackstone, while the sellers were CIM Group. The shopping center is situated in the Brooklyn market.

Summary of transaction details:

• Property Type: Shopping Center
• Transaction Amount: $130,000,000
• Address: 8925 Avenue D
• Market: Brooklyn
• Total Square Feet: 274,000
• Price Per Square Foot: $474

Involved in the transaction were Shaul Kuba, Avi Shemesh, Katheleen Mccarthy, Jonathan Gray, and Ken Caplan. The sellers were represented by Andrew Scandalios, Rob Rizzi, and Jose Cruz from JLL. Please note that no additional information was provided regarding the deal.