GHP Office Realty, LLC recently purchased 20 Saugatuck Ave. The currently vacant retail shopping center is 19,000 s/f.
The owners are planning to undergo a $2 million capital improvement project to create a class A multi-tenant shopping center. The capital improvement project includes the following upgrades to the center: installation of a new modern glass façade, new awning, new signage, installation of new mechanicals and gas service, new landscaping, the parking lot will be resurfaced and re-striped, and the roof will be resurfaced.
Andrew Greenspan, principal of GHP Office Realty, said that 20 Saugatuck Ave. offers a unique opportunity to class A retailers because of the limited availability of retail locations in the market that can offer up to 19,000 s/f.