Newmark Brokers $425M Sale of Shops at Skyview in Queens

NEW YORK CITY — Newmark has brokered the $425 million sale of The Shops at Skyview, a 555,000-square-foot grocery-anchored retail center located in the Flushing neighborhood of Queens. Anchored by BJ’s Wholesale Club and Sky Foods, The Shops at Skyview was 97 percent leased at the time of sale. Additional tenants include Target, Nordstrom Rack, Bath & Body Works, Burlington, Adidas, Converse, Marshalls, Foot Locker, Old Navy, Sephora and Swarovski. Adam Spies, Adam Doneger, Conor Lalor and Ben Lushing of Newmark represented the seller, Perform Properties, in the transaction. Jordan Roeschlaub, Nick Scribani, John Caraviello and Tim Polglase, also with Newmark secured a $289 million acquisition loan through Mizuho on behalf of the buyer, a joint venture between Acadia Realty Trust and TPG Real Estate.