News:
Brokerage
Posted: May 22, 2026
United Properties Corp. invests $48.2 million in four strategic retail acquisitions
East Meadow, NY United Properties Corp. has completed four retail acquisitions across New York, Illinois, and Virginia, strengthening its national footprint and adding 327,687 s/f of high-quality shopping center space to its portfolio.
In Chicago, United Properties acquired Bishop Plaza, a 76,000 s/f retail center located at 1400–1424 W. 47th St. and 4626–4644 S. Bishop St., for $11.5 million in May 2026. The property serves as a key neighborhood shopping destination in a dense and vibrant local market.
In Romeoville, Il., the company purchased the , an 82,687 s/f shopping center located along the S. Weber Rd. corridor, for $11.1 million in May 2026. The grocery-shadowed center is home to national tenants including TJ Maxx, Ross Dress for Less, Petco, and Five Below, and benefits from strong traffic and a growing trade area.
In Chesapeake, Va., United Properties acquired Woodford Square, an 85,000 s/f retail center located at 701 Battlefield Blvd. N., in fall 2025 for $12.1 million. The center occupies a prime location along one of Chesapeake’s busiest commercial corridors and features a strong mix of retail, dining, and service tenants.
In Horseheads, N.Y., the company added South Tier Crossing, an 84,000 s/f retail center located at 1450–1642 Country Rd., for $13.5 million in winter 2025. The center serves the greater Horseheads and Elmira market, with a mix of national retailers, dining, and service uses supported by a broad, growing residential base tied to local industry.
These acquisitions reflect United Properties Corp.’s continued commitment to investing in well-located retail centers that function as essential community assets. Collectively, the four properties expanded the company’s portfolio to a now 22 states, strengthening its presence in key growth markets.
Headquartered in East Meadow, N.Y., United Properties Corp. is a privately owned, family-run commercial real estate company with a portfolio that spans 22 states.
MORE FROM Brokerage
Fireside Embroidery leases at 1245 Middle Country Rd. in Middle Island
Middle Island, NY Robert Raffa and Robert Monahan of Island Associates negotiated the 1,404 s/f lease for Fireside Embroidery in the Strathmore Shopping
Quick Hits
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
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,
