A group of local investors has teamed to buy most of the 1.1M SF Broadway Commons mall in Hicksville at a steep discount from a Swiss bank.
The investors, who plan to upgrade the historic retail complex, bought it as the entity K/BTF Broadway LLC, which includes Rockville Centre-based BTF Capital; the KABR Group, based in Englewood, NJ; and AJM BRE Venture, a joint venture of Long Island firms AJM Real Estate and Burman Real Estate.
According to a report in the Long Island Business News, the partners bought 728K SF of the 1.1M SF retail complex, which sits on 68 acres. Not included in the transaction was a 240K SF IKEA store, which IKEA owns, and a 137K SF Target store, which target owns.
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