Basser Kaufman acquires 70,000 shopping center; To launch improvement plan

Basser Kaufman has purchased the Peninsula Shopping Center from Shelly Horne of HST Realty. Located at the intersection of Peninsula Blvd. and Mill Rd., the 70,000 s/f shopping center is anchored by a Foodtown Supermarket and many long-term tenants. "Steven Kaufman and Marc Kemp, the principals of Basser-Kaufman, live in the area and have frequented the Peninsula Shopping Center their entire lives," said Robert Goldfeder, director of leasing for Basser-Kaufman. "We are very excited to own this property, and we plan to make improvements that will cater even better to the needs of the Five Towns community that the Peninsula Shopping Center has been serving for 50 years." The property has been a family-owned shopping destination since it was originally built in 1959. "We have exciting plans for the site, starting with an all-new façade and upgrades to the roof and parking area," said Kemp, principal. "Given our extensive experience, and expert knowledge of and connection to the area, we are uniquely qualified to make this shopping center the best it can be for the community." Basser-Kaufman has developed, leased and managed retail properties in the tri-state area and beyond for over 50 years. Their portfolio includes more than 40 neighborhood strip malls and community shopping centers across New York, New Jersey, Connecticut, Massachusetts and Pennsylvania encompassing more than three million square feet of prime retail real estate. Tenants include brands such as Toys 'R' Us, Stop & Shop, TJ Maxx, Dick's Sporting Goods, Staples, TD Bank, Starbuck's, Kohl's, Chase Bank, Marshall's, Michael's and Panera Bread. As a leading tri-state real estate developer and property management firm, Basser Kaufman is committed to creating value by matching tenants to community needs.