Royal Properties NAMED TO MANAGE FOUR SHOPPING CENTERS IN ROCKLAND COUNTY, NY
(Summer 2009)

Royal Properties, Inc. has been named as exclusive Broker and Managing Agent for four Shopping Centers located on heavily traveled Route 303. Tappan Plaza is located at 3-37 Route 303 and consists of thirteen retail stores with one currently vacant. Stateline Plaza I is located at 78-86 Route 303 and Oak Tree Road with six retail stores and three offices with three spaces vacant at this time. Stateline Plaza II is located just south of Stateline I at 38-58 Route 303 and consists of four retail stores and one vacancy. Tappan Shopping Center is located on 47-51 Route 303 with three retail stores with one currently vacant. The properties, strategically located on Route 303 on the New York/New Jersey border with easy access to the Palisades Parkway, have in excess of 78,000 SF.

“With its location at the border of Bergen and Rockland Counties, this retail hub is already drawing interest from many national and regional retailers” says Scott Meshil who is handling this assignment along with David Landes on behalf of Royal Properties, Inc. The shopping centers which are 92% leased have stores available from 500 – 3,300 SF.

After a thorough inspection of the properties, Royal Properties’ Management team has completed repaving and line striping the parking lots, roof repairs, an overhaul of the landscaping, and added two new tenants. “With input from the Landlord and the existing tenants, we were able to bring immediate relief to some pre-existing problems that brought about a quick and positive impact for all parties” says David Landes, a principal of Royal Properties, Inc.

Royal Properties manages shopping centers throughout the tri-state area and is actively pursuing additional property management assignments to add to our growing portfolio.

Royal Properties, Inc. is a retail brokerage, property management and consulting company specializing in the placement of retailers throughout New York, New Jersey & Connecticut. To learn more about Royal Properties, Inc. please call 914-237-3403 or visit our website at www.royalpropertiesinc.com.