Business & Tech
Broadway Mall in Hicksville Up for Sale
Hicksville fixture goes on the market with 93 percent occupancy rate.
The Broadway Mall in Hicksville, a centerpiece property with national anchor tenants like Macy's, H&M and Ikea, is up for sale.
The mall owner, Vornado Realty Trust has listed the property with the Manhattan-based real estate company Cushman & Wakefield, according to a report in Newsday.
Vornado Realty Trust told shareholders last year that it would reduce its mall portfolio, Newsday reported. Since then, Vornado sold the Green Acres Mall in Valley Stream to Santa Monica-based Macerich Co. for $500 million. The Broadway Mall is Vornado’s remaining Long Island shopping center, according to the Newsday report.
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According to the listing, he mall has about 1.14 million of space capable of leasing and an occupancy rate of almost 93 percent. The average household income within five miles of the mall is $129,091, and Ikea has a long-term lease that expires in 2088, the listing states, according to Newsday.
Originally built as the "Mid-Island Shopping Plaza in 1956, the mall grew and ultimately changed its name to the Broadway Mall in 1989.
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