For Auction
REO Sale: Anchored Regional Shopping Mall | Diverse National Tenancy
Plattsburgh, NY 12901Represented by
JLL Capital Markets
Asset Snapshot
Investment Highlights
Offering Summary
Brokered by Jones Lang LaSalle Americas, Inc. and powered by RealINSIGHT Marketplace, Champlain Centre is a 602,831-square-foot regional mall. Of the total property, 475,780 square feet are owned by the seller and comprise the collateral being offered in this sale. The mall is positioned in Plattsburgh, New York. Champlain Centre is the dominant, enclosed retail and entertainment destination in the region, serving a vast, multi-state trade area of approximately 2.8 million people that includes substantial cross-border traffic from Vermont and Quebec, Canada. The Property features an anchor lineup ideally suited for the trade area, including Target, Hobby Lobby, Dick's Sporting Goods, JCPenney, Kohl's and Regal Cinemas, among others. With full ownership of all anchor boxes except Target, Champlain Centre offers investors majority site control, operational flexibility, and significant repositioning upside in a market with limited competitive supply and strong institutional demand drivers. Located at the crossroads of Interstate 87 (~16,305 VPD) and New York Route 3 (~25,213 VPD), just 26 miles from the Champlain-Rouses Point US/Canadian border crossing (~2.4 million crossings annually), Champlain Centre benefits from unparalleled regional access and visibility. The Property serves as the primary shopping, dining, and entertainment hub for the greater Plattsburgh region, drawing from an expansive trade area with average household incomes of $116,236 and a population exceeding 288,000 within 30 miles.
Due Diligence
Location
Champlain Centre is ideally situated along the main retail corridor in Plattsburgh at the heavily trafficked intersection of I-87 (~16,305 VPD) and NY-3 (~25,213 VPD), with high visibility from and significant frontage along Tom Miller Road (~10,350 VPD) and Smithfield Blvd, just 26 miles from the Champlain-Rouses Point US/Canadian border crossing (~2.4 million crossings annually).
Transaction Managers
Platform Fee
Buyer pays platform fee at closing.
5% or $25,000 minimum
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
