Successful Sale of Yellowstone Shopping Center in Jamaica, Queens
Bob Knakal and his team successfully closed the sale of Yellowstone Shopping Center, a five-building retail and development site in Jamaica, Queens. The transaction, which took place on April 30, 2005, achieved a final sale price of $27,500,000.
The property, spanning 252,000 square feet, presented a valuable investment opportunity in a prime retail corridor. Bob’s strategic approach ensured a competitive sale process, securing favorable terms for the seller.
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Sale Details
Bob Knakal’s expertise in navigating the retail and development market played a crucial role in maximizing value for the seller. Through targeted outreach and an in-depth understanding of buyer demand, his team positioned the property effectively to attract strong offers.
- Sale Price: $27,500,000
- Property Type: Development, Retail
- Sale Date: April 30, 2005
- Neighborhood: Jamaica, Queens
- Buildings on Site: 5
- Total Size: 252,000 SF
- Price per SF: $109.13
Property Overview
Yellowstone Shopping Center, located at 64-45 108th Street, consisted of multiple buildings designed for retail and commercial use. Situated in a high-traffic area, the property benefited from strong demand among investors and developers looking to capitalize on Jamaica’s growing retail presence.
The transaction reflected the area’s continued evolution, with the shopping center offering both immediate income potential and long-term development value.
Market Strategy and Competitive Positioning
Bob Knakal’s strategy focused on:
- Maximizing Market Exposure – Targeting a broad pool of buyers to ensure competitive bidding.
- Retail Growth Potential – Highlighting the property’s value in Jamaica’s expanding commercial sector.
- Negotiating Stronger Terms – Securing favorable contract terms to optimize the final deal.
Neighborhood Overview
Jamaica, Queens, is a key retail and transit hub, offering:
- Strong commercial activity – High foot traffic and consumer demand.
- Access to major transportation – Proximity to JFK Airport and key subway lines.
- Development opportunities – Increasing investor interest in mixed-use projects.
Conclusion
The sale of Yellowstone Shopping Center showcases Bob Knakal’s ability to secure strong outcomes through strategic positioning and market insight. By leveraging retail demand in Jamaica, he successfully delivered a deal that maximized value for the seller.
Testimonial
“Bob Knakal is a trusted advisor of mine and one of the best brokers I have ever worked with. We have done several transactions with Bob, and he never lets me down. On our Yellowstone deal, he did his usual fantastic job for us. Bob Knakal will never let you down!”
– Donald Zucker, Zucker Organization
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