Success Stories
THOMPSON SQUARE SHOPPING CENTER
4058 Route 42 North
Monticello, NY 12701
STRATEGIC REPOSITIONING
Heidenberg Properties initiated another exciting redevelopment in Monticello, NY in 2017. Situated on Route 42 across from Walmart and near the multibillion-dollar Resorts World Catskills and Kartrite Hotel and indoor waterpark, Thompson Square has been home to anchor tenants ShopRite and Home Depot.
AUGMENTED TENANCY
However, the fourth quarter of 2019 marked a material improvement in the tenancy of the shopping center. In September 2019, we demolished a former theater to allow for the construction of a 21,000 square foot Marshalls. While the pandemic and local government restrictions halted construction for much of the spring of 2020, the developers and its general contractor, the Bannett Group, Ltd., were able to secure the site, protect the work, and ultimately timely deliver the new store to Marshalls, which opened in March 2021.
Not one to rest on our laurels, just two weeks after turning over the new store to Marshalls, we executed a lease with a large franchisee of Popeye’s Louisiana Chicken in August of 2020. The franchisee demolished a former bank building and constructed a new prototype Popeye’s which opened in August 2022.
In addition, in 2024 Heidenberg secured approvals for a new 14,200 sf multi-tenant retail building located across the parking lot from Marshalls. The development, by the Bannett Group, was completed in 2025. New tenants, Five Below, Verizon and Starbucks opened in 2026 strengthening the hub near Resorts World Catskills.
CONTINUED ENHANCEMENT
We are currently negotiating with other national retailers who will be located in a further expansion of the shopping center. The group expects to finalize leases and ultimately begin construction in the second half of 2021.
