Ripco Real Estate
New City, NY Ripco Real Estate has arranged leases for two retail pad locations. Ripco served as the exclusive leasing agent in both of the transactions, totaling 5,800 s/f. Both locations featured an available drive-thru and were leased to national restaurant chains.
In Rockland County, Ripco arranged a 3,800 s/f lease for Burger King at 164 South Main St., David Townes and Curtis Nassau represented the landlord, Tap I LLC.
In Edison, N.J., coffee chain Tim Horton’s leased a 2,000 s/f in a new retail development along Rte. 27. Townes and Nassau represented the landlord, an affiliate of Two Kings Real Estate Co.
“These leases prove the demand in our market for high quality restaurant locations – particularly those that include a drive-thru,” said Townes.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,