Shopping center giant steps into Elmsford

Two big-box retail properties in Elmsford whose previous owner filed for bankruptcy nearly two years ago sold for a combined $28 million last month to a leading shopping center owner and operator on two continents.

Kimco Realty Corp., a publicly traded real estate investment trust headquartered in New Hyde Park, paid $18 million for the Sports Authority building and parcel at 295 E. Main St., according to Westchester County land records. Kimco paid $10 million for the adjacent Bed Bath & Beyond property at 251 E. Main St.

These Elmsford big-box retailers have a new landlord.
These Elmsford big-box retailers have a new landlord.

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Sport Authority, a national retail chain, held an August grand opening at its approximately 58,000-square-foot store in Elmsford. The one-story space was vacated in early 2012 by Syms Clothing and Filene”™s Basement after owner Syms Corp. and its subsidiaries, most notably Filene”™s Basement L.L.C., filed for Chapter 11 bankruptcy protection.

The Secaucus, N.J., company emerged from bankruptcy one year ago as Trinity Place Holdings Inc. The Syms business successor was the seller in the Elmsford deal.

Kimco executives in Dutchess County did not return calls for comment.

The company describes itself on its website as owner and operator of North America”™s largest portfolio of neighborhood and community shopping centers. The REIT”™s investments extend beyond the continent; the company at the start of July owned interests in 874 shopping centers comprising 128 million square feet of leasable space in 43 states, Puerto Rico, Canada, Mexico and South America.