PEBB Enterprises and Sagamore Hill Partners, owners of Soundview Marketplace in Long Island, New York, finalized new leases with specialty discount store Five Below and fitness retailer F45. The partnership has generated significant activity since acquiring the 188,109-square-foot shopping center in December 2020.
Five Below, the Philadelphia-based chain that sells an assortment of low-cost products, is leasing 10,000 square feet at the 10 Shore Rd. center in affluent Port Washington. F45, the popular high-intensity interval training fitness program, is occupying 3,202 square feet.
Built in 1962 and 1977, Soundview Marketplace is comprised of four buildings on nearly 11 acres. Notable tenants include Target, TJ Maxx, Walgreens, West Marine and Ace Hardware. The center is PEBB’s first property in the New York market.
“When acquiring Soundview Marketplace a year ago, our partnership saw vast potential to add value given the center’s location and existing anchor tenants,” PEBB Enterprises President and CEO Ian Weiner said. “Securing these leases with strong national brands like Five Below and F45 underscore Soundview’s appeal.”
PEBB and Sagamore are planning enhancements to the center with the goal of attracting additional top-tier shopping and dining operators.
“The transformation of Soundview Marketplace into the area’s premier retail and dining destination is in full swing,” Sagamore Hill Partners Principal Mark Kaplan said. “We look forward to continued leasing momentum in the year ahead.”
RIPCO Real Estate is overseeing Soundview Marketplace leasing on behalf of the owners. Jason Sobel and Jeremy Isaacs of RIPCO represented the landlords in the Five Below and F45 leases, while the firm’s Tom Rettaliata and Jeff Howard represented Five Below. CBRE represented F45 in its lease at Soundview.
Port Washington is a hamlet, or community, in Nassau County on the North Shore of Long Island. The upscale area is known for luxurious homes, marinas, yacht clubs and golf courses.
About PEBB Enterprises: Based in Boca Raton, FL, PEBB Enterprises is an entrepreneurial, full-service private equity real estate investment company. PEBB has operated as a family-owned business for more than four decades and takes pride in the company’s team of forward-thinking associates who continue to push and expand PEBB’s growth on a daily basis. PEBB has an unparalleled track record of acquiring and developing high-quality neighborhood, regional and power shopping centers, as well as suburban office buildings. The company’s vast portfolio includes properties in Florida, Texas, Nevada and numerous Midwest and Southeast states. For more information, visit https://pebbenterprises.com/.
About Sagamore Hill Partners: Based in New York City, Sagamore Hill Partners is a privately held real estate investment company. The firm focuses on retail and mixed-use properties in the New York metro area and invests across the risk-return spectrum in all parts of the capital structure. Its platform was born out of a strategic partnership with the largest independent retail leasing and management company in the region. For more information, visit www.saghill.com.
