According to The Kalikow Group, Stop & Shop Supermarket Co. has assumed the 60,000 s/f anchor lease at Expressway Plaza, a 95,000 s/fcommunity shopping center located at 1441 Richmond Ave. in the Graniteville section.
Completed in 1998 by a joint venture of The Kalikow Group and Feldco Development Corp., Expressway Plaza is located adjacent to the Staten Island Expressway (1-278) at the Richmond Ave. exit.
Expressway Plaza is 100% leased. Other major tenants include Applebees, Sleepy's Bedding and Richmond County Savings Bank. Feldco Development is the property manager and Howard Seidenfeld of Global Realty Services, LLC is exclusive leasing agent for the shopping center.
Stop & Shop has assumed the long-term lease of the property formerly held by King Kullen supermarkets, which sold its three Staten Island locations to Stop & Shop in December 2011. Stop & Shop re-opened the re-branded Expressway Plaza supermarket and another former King Kullen supermarket at 4343 Amboy Rd. in the Eltingville section on January 20, doubling the company's Staten Island locations.
"Expressway Plaza has always been a prime supermarket location, catering to a stable, middle-class community of diverse ethnicities," said Edward Kalikow, president and CEO of The Kalikow Group. "We are gratified that Stop & Shop will anchor the shopping center for years to come, filling a vital need for the Graniteville community."
Expressway Plaza features six points of entry; a dedicated left turn at the Richmond Ave. entrance traffic light; a parking ratio of over six cars per 1,000 s/f; and benefits from over 100,000 daily cars passing through the intersection of I-278 and Richmond Ave.
The Kalikow Group is a private source of Joint Venture Equity financing for middle-market Real Estate Developers, Operators and Builders. Headed by Edward Kalikow, it has been acquiring, developing and investing in all types of real estate projects for well over 30 years. The Kalikow Group is a multifaceted source of equity for a variety of investment platforms including retail, multifamily, condominiums and single-family home development, as well as land-development for national home builders. To date, The Kalikow Group has raised over $100 million of equity capital which has funded projects valued in excess of $850 million. Tags: