Yonkers mall sold to Manhattan group
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- February
- 28
Centro Properties Group has sold The Mall at Cross County in Yonkers to a holding of Ashkenazy Acquisition Corp. in Manhattan for $80 million.
The Mall at Cross County, at 750 Central Park Ave., has 20 stores and 264,000 square feet. It is separate from, and unrelated to, the much larger Cross County Shopping Center nearby.
Centro, a global real estate business headquartered in Australia, owns or has stakes in the Cortlandt Towne Center and seven other shopping centers in the Lower Hudson Valley. It bought The Mall at Cross County in April 2005 and had scheduled it for redevelopment due to the massive renovation project taking place at Cross County Shopping Center, the company said in a statement.
Centro said it decided to sell the smaller mall instead because of the “strong price� offer, an increase of 36.5 percent over what it paid for The Mall. Centro’s statement also alluded to unspecified development difficulties related to the site’s configuration and to mixed-use development.
The Mall at Cross County’s anchor stores include TJ Maxx, AJ Wright, Homegoods, Sports Authority, Circuit City and National Wholesale Liquidators.
Ashkenazy Acquisition Corp. owns one other shopping center in Westchester, the Downtown Yonkers Shopping Center. The 90,000-square-foot retail plaza is near Getty Square.
This entry was posted
on Thursday, February 28th, 2008 at 5:35 pm by Julie Moran Alterio.
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Category: Corporate doings
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