Vault Development Partners Acquires The Mill Shopping Center In Water Mill For $13.1M

The Mill shopping center in Water Mill, New York, has been sold for $13.1 million. The property, located at 760 Montauk Highway, is a retail asset with a total area of 29,500 square feet. Situated in a village square setting, the shopping center consists of six buildings. The sale price translates to approximately $444 per square foot.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $13,100,000
• Address: 760 Montauk Highway, Water Mill
• Market: Water Mill

Vault Development Partners, a boutique real estate investment company, has acquired The Mill shopping center. The buyer's representative in the deal is Robert Zecher, who is affiliated with Vault Development Partners. The sale was facilitated by brokers Hal Zwick and Jeff Sztorc from Compass.

Vault Development Partners plans to renovate the property and bring in new tenants. The acquisition of The Mill presents an opportunity for the company to enhance the retail space and attract a diverse range of businesses to contribute to the local economy.