January 20, 2005

 

PRESS RELEASE

February 3, 2005

 

AB Partners, LLC

Purchases 56,566 square foot, 1-story retail/commercial building

East Sandford Boulevard, Mt. Vernon, New York

 

 

                        AB Partners, LLC recently acquired the modern one-story commercial building off Exit 8 Southbound or Exit 9 Northbound of The Hutchinson River Parkway that they plan to net lease for 21 years at $10.60 per square foot net + CPI for 21 years or more to a retail or commercial tenant who would like to join the newly opened Target; Bed, Bath & Beyond; Best Buy; Stop & Shop; Staples; US Post Office and other major retailers who have recently opened large, new retail stores on East Sandford Boulevard, just off Exit 8/Exit 9 of the Hutchinson River Parkway.

 

                        The property -- quality built, approximately twenty years ago, is located on approximately 2.44 acres of land and has approximately 8,000 square feet of first class offices on the 2^nd floor with the balance of the space high ceiling warehouse or sales space.

 

                        The 56,566 sq. ft., 249 E. Sandford Bouleard building, in addition to being an exciting retail location and building at $10.60 per sq. ft. net, is drawing interest from a number of combination office/warehouse outlet tenants as well as two major retailers interested in a long term Land Lease.  They would demolish the existing building and build new retail buildings.

 

                        Earle S. Altman, Gregg Schenker and Steven Hornstock of AB Partners, LLC will be handling the net leasing of this property.