Property Details

  • Capstone acquired a 96% leased grocery-anchored community shopping center that was developed and owned by Kimco since the 1970s.
  • The 167,686 SF shopping center is located at 15 Burnett Boulevard in Poughkeepsie, NY.
  • The top three tenants, Stop & Shop, Big Lots, and Dollar Tree comprise 68.7% of the total gross leasable area (“GLA”) and 69.8% of the base rental income, and 80% of the total center will be occupied by tenants that have been in occupancy for more than 10 years
Asset Class Retail
Property Size 170,000 SF
Investment Status Long Term Hold
Forecast Deal IRR 17.6%
Forecast Deal EM 2.03X
Year Acquired 2014

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