Concord Capital Acquires 203,000-Square-Foot Shopping Plaza in New York

The four-building property totals 203,000 square feet with more than 40 retail spaces. The four-building property totals 203,000 square feet with more than 40 retail spaces.

Middletown, N.Y. — Concord Capital New York has purchased Playtogs Shopping Plaza, a shopping center in Middletown.

The company acquired the center from CIII Asset Management, a loan servicer that foreclosed on the previous owner, for more than $4 million. Concord Capital plans to renovate the existing structure, rename the property Middletown Plaza and Playtogs Corporate Center and lease the property at rates between $8 to $15 per square foot. Future development plans could also include multifamily units and a hotel, according to a release. The four-building property totals 203,000 square feet with more than 40 retail spaces. At the time of sale, the center was 40 percent leased to tenants such as Family Dollar, TD Bank, Rent-A-Center, Mavis Discount Tire, Carvel and Middletown Cinemas.

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