JLL and Steel Equities close sale of 26.4 acres of developable land and pad sites

Oyster Bay, NY JLL Capital Markets (JLL) has closed the sale of 195 North Bdwy., a 26.4-acre, development opportunity located in the populated hamlet of Hicksville, Nassau County.

JLL worked on behalf of the seller and Steel Equities acquired the asset.

The property consists of two pad sites situated on 3.1 acres, as well as the approximately 23.3 acres of developable land. The existing retail tenants include the triple-net-leased Chipotle and TD Bank, which draw roughly 425,000 visits per year. The remaining developable land is zoned General Business (GB), which allows for most retail, medical and office uses.

1 The JLL Capital Markets team was led by Jose Cruz, J.B. Bruno, Ryan Robertson, Kevin O’Hearn, Andrew Scandalios and Joseph Lembo.

“The infill location of 195 North Bdwy. combined with the ability to acquire a site this size attracted multiple bidders that wanted to acquire the former Sears and led to very strong pricing,” said Cruz.

95 North Bdwy. is positioned across the street from Broadway Commons, a 1.2 million s/f destination shopping center. It sits less than one mile from the Long Island Expressway, Northern State Parkway and the Hicksville Train Station and features significant frontage on North Bdwy., which has an average daily traffic count of over 30,000 vehicles. Within a five-mile radius of the site is an affluent and dense population of 290,767 with an average household income of $166,292.