ELLENVILLE, NY – Walmart has acquired the Napanoch Valley Mall in the Ulster County hamlet of Napanoch for $5 million adjacent to its new store currently under construction.
The deal was reported by Crossroads Companies, LLC of Mahwah, NJ, which represented the seller, Napanoch Valley Mall LLC and its Managing Partner Joseph Tso in the transaction. Tree Line Real Estate represented Walmart Stores in the deal.
In addition to a 130,000-square-foot Walmart that is now under construction, the 20-acre site is being redeveloped to include an adjoining 7,600-square-foot retail plaza. The Napanoch Post Office and three retail tenants will occupy the new space. Plans include razing the outdated 30-year-old Napanoch Valley Mall and replace it with a modern grocery/discount department store.
“This property has been in transition ever since Ames and Grand Union vacated the premises many years ago,” states Steve Hittman, president and CEO of Crossroads Cos. “We are pleased to have finalized this sale on behalf of the seller, paving the way for construction and access to much-needed goods and lifestyle necessities for local residents in close proximity to their homes.”