JLL Negotiates Sale of 395,000 SF Grocery-Anchored Power Center on Long Island

by Taylor Williams

RIVERHEAD, N.Y. — JLL has negotiated the sale of Riverhead Centre, a 395,000-square-foot retail power center in Long Island’s Suffolk County. Grocer ShopRite and The Home Depot anchor the center, which was originally built on 50 acres in 2003 and was 99 percent leased at the time of sale. Other tenants include Bed Bath & Beyond, Best Buy, Petco, Michaels, Designer Shoe Warehouse, Famous Footwear, Barnes & Noble, Ashley Home Store and IHOP. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Mark Belenky of JLL represented the seller, an entity advised by PNC Realty Investors, in the transaction. The buyer was New York City-based Prestige Properties & Development Co. Inc.

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