Crossroads Companies, LLC (Crossroads) has been named the exclusive broker for a vacant 29.5-acre land parcel fronting U.S. Route 209, River Street and Airport Road in this western Ulster County, N.Y., town. A private investment group owns the property. The site is ideal for big-box and/or junior-box users.
The Crossroads team spearheading the assignment includes Carlo Caparruva and Al Giglio. The team is marketing the U.S. Route 209 site, which can accommodate a large, regional or national retailer who wants to be near the new Super Wal-Mart that is under construction and slated to open fall 2013. The Wal-Mart also is on U.S. Route 209 and located in Wawarsing, N.Y. Both sites draw from an approximate 15- to 20-mile trade radius and have close proximity to Route 17/Route I-87 corridors. Other local roadways include US 44 and Route 52.
Less than four miles away, the historic Nevele Hotel is slated to undergo a major $500 million renovation and repositioning, subject to new gaming legislation. To the south is a major Kohl's distribution facility.
"New York State's tri-county region of Ulster, Sullivan and Orange counties boasts a high concentration of national, regional and local retailers as well as leisure-activity venues that generate high levels of vehicle and foot traffic in this area," said Caparruva. "This land parcel is a unique multi-user opportunity for new construction on a lease or own basis."
Crossroads was established in 2001 as a real estate development company specializing in supermarket-anchored shopping centers. The company owns, leases and/or manages a portfolio of approximately 700,000 square feet of shopping centers. Crossroads also provides third-party real estate and consulting services.