News: Shopping Centers

Andreadis of Centro Properties Group secures two leases totaling 3,600 s/f

According to Centro Properties Group, the firm has completed four leases totaling 9,180 s/f. A 1,200 s/f Bella Nails & Spa recently opened at Highridge Plaza, located approximately 1.2 miles north of the Sprain Brook Pwy., on Central Park Ave. Centro is the owner of Highridge Plaza and was represented by Nick Andreadis with Centro. A 3,000 s/f Dollar Discount recently opened at Monroe ShopRite Plaza, located south of Rte. 17, on Rte. 17M, just south of the intersection of Rte. 208 in Monroe. Centro is the owner of Monroe ShopRite Plaza and was represented by Steve Teplick with Centro. A 2,500 s/f El Canelo, a Mexican restaurant, recently opened at McKinley Plaza, located 0.5 mile east from I-90 West from exit 56, on the southwest corner of Milestrip Rd. and McKinley Pwy. in Hamburg. Centro is the owner of McKinley Plaza and was represented by David Gerstenhaber with Centro. A 2,480 s/f lease has been executed with Ten Tigers Kung Fu Academy at Turnpike Plaza, located north of I-495 and the Northern State Pwy., on East Jericho Tpke. (Rte. 25) at Longfellow Dr. in Huntington Station. Centro is the owner of Turnpike Plaza and was represented by Andreadis with Centro. Centro Properties Group is the third largest owner of community and neighborhood shopping centers in the U.S. Its portfolio of approximately 600 properties is strategically located across 39 states and aggregates approximately 98 million s/f of gross leasable area.
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2024 Year in Review: William O’Brien, M.C. O’Brien, Inc.

What noteworthy transactions or deals from this year best exemplified key market trends or shifts? I would like to say there was an outstanding transaction for me this past year but 2024 was more a culmination of long-term relationships, most of which continued to transact. Deals were smaller in many cases but we saw robust leasing both on the agency side as well as on the tenant side.

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