SkyView Center on the Market for More Than $400M

reprints


The Shops at SkyView Center.
The Shops at SkyView Center.

The Shops at SkyView Center in Flushing, Queens, has hit the market and is expected to fetch north of $400 million, according to a person familiar with the matter.

SEE ALSO: Gotham Seeing Huge Influx of Retailers From Asia, and NYC Is Only the Beginning

That person requested anonymity since a formal announcement has not yet been made. No prospective buyers were named.

The 700,000-square-foot mall opened in 2010 and is part of a larger mixed-use development in Flushing that also includes residential condominiums.

The popular Japanese clothing store, Uniqlo, signed a lease for 8,000 square feet at SkyView Center in April and is expected to open its doors there this spring.

Asking rents at the mall range from $75 to $125 per square foot, according to recent reports. The property is almost 100 percent leased.

Onex Real Estate Partners, an affiliate of the Toronto private equity firm Onex Corporation, co-developed the shopping center with Queens-based Muss Development and took full ownership after the project was completed.

A spokeswoman for Onex did not return requests for comment by publication time.