ShopRite-anchored retail center in downtown White Plains trades for $50M

MORRISTOWN, N.J., Sept. 10, 2026 –  JLL Capital Markets announced today that it has secured the $50 million sale of City Center, a 361,948-square-foot retail property located in the heart of White Plains, New York. JLL also arranged acquisition financing in the amount of $39.2 million from a regional bank on behalf of the buyer.

JLL worked on behalf of the seller, Kite Realty Group Trust. The buyer was PropUp Group.

City Center is strategically positioned at 5 Mamaroneck Ave. in downtown White Plains, at the crossroads of several major avenues and just one mile from Interstate 287. The property sits within walking distance of the White Plains Metro-North Railroad station, which provides a 38-minute commute to Grand Central Terminal in New York City. This prime location provides excellent accessibility, drawing visitors from Westchester County's affluent communities including Scarsdale, Rye and Port Chester.

White Plains is the commercial center of Westchester County, with a population of 59,000 residents and a thriving daytime population of 75,000 workers. The downtown area has undergone significant revitalization in recent years, with approximately 7,000 multifamily residential units currently under construction, approved or proposed. The area boasts strong demographics, with average household income exceeding $246,000 within a five-mile radius.

The multi-level retail center was originally built in 2003 and features 91.5% occupancy. City Center is anchored by ShopRite, the New York region's dominant grocery store operator. Additional anchor and junior anchor tenants include Burlington, Nordstrom Rack, New York Sports Club and Apple Cinemas, a 15-screen movie theater. The property also includes 24 affordable apartment units and benefits from a 154,000-square-foot Target on the lower level and the 17,500-square-foot White Plains Performing Arts Center on the top floor that shadow anchor the property. The ground level inline tenants have street level entrances while the anchors and junior anchors are accessed from an atrium lobby that is connected to a city-owned parking garage.

City Center is part of a larger mixed-use complex that includes two luxury residential towers comprising 528 apartments and condominiums, as well as the 365-unit Ritz-Carlton Condominium across the street. The property attracts approximately 3.4 million annual visitors with an average dwell time of 64 minutes.

The center presents upside potential for the PropUp Group, with the ability to lease 30,650 square feet of vacant space, including a former Barnes & Noble unit with prime ground-floor visibility and plaza access.

The JLL Capital Markets Investment Sales and Advisory team was led by Kevin O'Hearn, J.B. Bruno and Jose Cruz.

“White Plains is a phenomenal submarket and only getting better with more luxury residential and mixed-use developments underway,” O’Hearn said. “This led to a tremendous response for this grocery anchored, multi-level urban asset, and we’re excited to see where the buyer takes it.”

Bruno added, “The strong fundamentals within the retail sector are creating unprecedented competition amongst buyers and lenders for well-located, institutionally maintained, properties such as City Center.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.