New York Regional Retail Center | Value-Add Opportunity

Investment Highlights

• NOI $1,059,267
• Rare opportunity to acquire a super-regional mall with substantial value-add opportunity through the lease-up of the vacant anchor boxes and in-line space with non-traditional retail uses.
• Parallel and extensive frontage to the heavily traveled I-90 and McKinley Parkway will support long-term redevelopment into a highway-oriented front-facing mixed-use center.
• Recent introduction of non-retail uses, highlighted by the expanded Sports Academy, has funneled significant traffic to the in-line portion of the Mall, leading to both new deals and increased renewals.
• Long-term commitment to the immediate vicinity, as demonstrated by the densification and rapid development of McKinley Parkway.
• Strong tenant roster featuring high-performing national tenants, including Barnes & Noble, Best Buy and Old Navy.
• Long-standing local and municipal support will help ensure the Property’s future as a beacon of the community.
• Situated on 74.9 acres located less than 10 miles from downtown Buffalo and the United States/Canada border.
• Numerous tenants feature exterior entrances, a strategic design that will facilitate the Mall’s long-term repositioning.

Offering Details

Newmark and RI Marketplace have been exclusively retained to market to qualified investors the opportunity to acquire McKinley Mall (the “Property” or “Mall”), an enclosed super-regional mall located in Blasdell, NY, approximately 10 miles outside of downtown Buffalo. The Mall consists of approximately 847,111 square feet (728,397 SF owned) of gross leasable area, situated on 74.9 acres on the western tip of New York. The Mall’s anchor and major tenants are highlighted by JCPenney, Academy Sports, Barnes & Noble, Bed Bath & Beyond, Best Buy, and Old Navy. The anchor and major tenants are complemented by a line-up of strong national in-line retailers including Bath & Body Works, Famous Footwear, and Orange Theory.

This offering represents a unique opportunity to acquire a strategically located asset with numerous avenues of value enhancement. The configuration of McKinley Mall, adjacent and parallel to I-90 (37,355 VPD) and McKinley Parkway is well-suited for front-facing retailers, a strategic design that lends itself to a potential future redevelopment for new ownership.