Kimco Realty Acquires Retail Properties In Long Island From Kabro Associates For $375.8M

Kimco Realty has acquired a retail asset portfolio in Long Island for a total price of $375,800,000. The portfolio consists of multiple properties, including 2-50 Great Neck Rd, 8063, 8101 & 8285 Jericho Turnpike, 4900-4966 Merrick Rd, 90 Northern Blvd, 1-5 Glen Cove Road, 420-460 Montauk Highway, and 103-129 Jackson Avenue. The total square footage of the properties is 566,500, resulting in a price per square foot of $663.

Summary of Transation Details

• Property Type: Retail
• Transaction Amount: $375,800,000
• Address: 2-50 Great Neck Rd, 8063, 8101 & 8285 Jericho Turnpike, 4900-4966 Merrick Rd, 90 Northern Blvd, 1-5 Glen Cove Road, 420-460 Montauk Highway & 103-129 Jackson Avenue
• Market: Long Island
• Buyer: Kimco Realty
• Seller: Kabro Associates
• Brokers: Jose Cruz, Christopher Munley, Andrew Scandalios, James Galbally, Steve Simonelli, Colin Behr, J.B. Bruno, Patrick Higgins & Austin Pierce - JLL

The acquisition was facilitated by a team of brokers from JLL, including Jose Cruz, Christopher Munley, Andrew Scandalios, James Galbally, Steve Simonelli, Colin Behr, J.B. Bruno, Patrick Higgins, and Austin Pierce. Their expertise and negotiation skills played a crucial role in the successful completion of the transaction.