Heidenberg Properties Announces New 54,000 Sq. Ft. Stop & Shop Lease and Redevelopment Plans at Mahopac, NY Shopping Center05 Jan 2016, Posted by Press Release in
See article in GlobeSt.com
January 5, 2016
The new Stop & Shop will be built from the ground up, replacing the existing 24,000 square foot Key Food and the 7,800 square foot CVS. This redevelopment will be more than 25,000 square feet larger than the two existing stores, expanding Lake Plaza Shopping Center from 141,000 to over 166,000 square feet.
“This project has been in the planning stages for quite some time and will be transformative,” said Robert Heidenberg, President and CEO of Heidenberg Properties. “We purchased this property as a redevelopment opportunity in June 2008 with the intent of adding value through compelling anchor tenants.” Stop & Shop currently operates 403 stores throughout New York, New Jersey, Massachusetts, Connecticut and Rhode Island, and is one of four regional divisions of Ahold USA.
The Stop & Shop lease prompted ownership to further reinvest in the center. Located at the intersection of Route 6 and Baldwin Lane, Lake Plaza Shopping Center is slated to undergo a total renovation which will include a new façade for the in-line tenants, modifications to the shopping center’s pylon sign, and a complete resurfacing of the parking lot including additional parking spaces, new LED lighting, and landscaping. The renovation will have significant benefits to the town and is an overall improvement to the center.
“Once construction is completed, the tenants and customers of Lake Plaza Shopping Center will enjoy a first-class, modern retail environment,” stated Heidenberg. Shopping center tenants also include Kmart, KeyBank, and a number of local businesses.