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Heidenberg Properties Divests Hauppauge Retail Center

22 Mar 2023, Posted by Admin in Press Release

Berlin, NJ — March 15, 2023 — JLL Capital Markets has closed the sale of Hauppauge Plaza, a 34,919-square-foot, community-focused retail center on Long Island in Hauppauge, NY. The sale price wasn’t disclosed.

JLL’s Christopher Munley, Jim Galbally, Jose Cruz, Colin Behr, JB Bruno and Andrew Scandalios represented the seller, Heidenberg Properties. Serota Properties acquired the asset.

The 100% leased Hauppauge Plaza is anchored by Dollar Tree. Additional tenants include Moe’s Southwest Grill, Duck Donuts, Sola Salon, Ace Plus Cleaners, Jersey Mike’s, Eddie’s Sakura Sushi Matador Cigar Lounge and Mama Sbarro’s Pizzeria. The property features a WALT of 4.4 years.

Heidenberg Properties’ COO Jason Lazar said, “Hauppauge Plaza presented us with the unique opportunity to re-invent a neighborhood center around Dollar Tree as our anchor. When it opened in late 2015, it served as a catalyst for other desirable national and regional operators.”

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