Preeminent New York City Retail Complex for Sale in Jamaica, Queens

Monday, July 9, 2018

Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, has been exclusively retained to arrange the sale of Jamaica Center, a 216,000-square-foot, multi-story, stand-alone, Class A retail complex in the epicenter of Queens’ dynamic downtown Jamaica neighborhood.

The retail center for sale is leased to a balanced mix of credit and necessity-based tenants, including Walgreens, Old Navy, SUNY Queens and National Amusements (Multiplex Cinemas) and has more than 250 feet of frontage along the thriving Jamaica Avenue corridor.  Situated at 159-02 Jamaica Avenue, Jamaica Center enjoys exceptional transportation connectivity; the outer boroughs’ fifth most highly trafficked subway station, with more than 12,500,000 annual riders, is located directly on-site. With near- and long-term value-add potential provided by the lease up of existing vacancy, below market in-place rents, 351 below-grade parking spaces and 428,000 square feet of developable air rights, Jamaica Center is a strong neighborhood retail hub with significant upside in one of New York City’s most densely populated and transformative neighborhoods.

Retail Property for Sale Investment Highlights

  • Exceptional Investment Opportunity with Unparalleled Scale:  The retail property for sale’s size makes it one of the largest retail assets in the New York City outer boroughs.
  • Developer Owned:  Jamaica Center was developed by the seller in 2002 and has never before been offered to the market.
  • Unmatched Transportation Access:  The retail center for sale has a Transit Score® of 100 and a Walk Score® of 98. It’s on-site subway station has 12.5 million annual riders (E, J, and Z trains), making it the fifth most highly trafficked subway station in New York City’s outer boroughs. Additionally, 27 NYCT and MTA bus lines stop at the property.
  • Impressive Demographic Profile:  More than 672,000 residents live within a three-mile radius of Jamaica Center, and the area within one-half mile has seen a population growth of 18.9 percent since 2010. York College with its more than 8,500 students is adjacent to the property.

Jamaica Center represents an opportunity for an investor to acquire one of the largest retail assets in the New York outer boroughs. For more information on this retail property for sale or other available commercial real estate listings for sale in and around New York City, please contact Jose Cruz, Andrew Scandalios or Rob Rizzi in HFF’s New York and New Jersey offices. Click here for our real estate investment sales search page.

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