Katz Properties   New York New York

About This Sponsor

Katz Properties, LLC is a real estate investment, development and management company primarily focused on the acquisition, operation and repositioning of grocery-anchored shopping centers. Established in Boston in 2003, the company has since expanded its footprint throughout the East Coast. Katz Properties engages in strategic acquisitions and sales and has formed partnerships with public REITs, private equity groups and family offices.

  • Geographic Regions: Northeast, Mid-Atlantic, Southeast
  • Risk Profiles: Stabilized (5-8%), Value Add (8-12%)
  • Property Types Retail / Shopping Center
  • Total Capitalization $700M
  • Gross Leasable Area 3,240,000 sqft

Company Overview

  • Founded in 2003 as a full service, real estate investment company
  • Based in New York City with regional offices in Boston, Philadelphia and Washington DC
  • Completed over $700 million worth of transactions
  • Proven ability to source and execute off-market and structurally challenging deals
  • Have complete transactions with Centro, Prudential, First Potomac Realty Trust, Phillips Edison, ReCap REIT, DDR, Angelo Gordon, Invesco, Kimco, Edens and Alex Brown Realty, Inland
  • Internal operating platform and established contacts with brokers, lenders, and leasing agents

Acquisition Criteria

  • Target market of suburban retail shopping centers in the eastern coast United States with an emphasis on credit grocery anchors (occupying 40%+ gross leasable area) representing fundamentally core assets offering potential for operational enhancements
  • Demographics of 60,000+ population and $70,000+ average household income within 3–5 mile radius
  • Minimum Price: $10,000,000
  • Property size of 100,000+ square feet
  • Good market placement, infill locations
  • Yields meeting or exceeding 7% unleveraged in the first year

Portfolio

Number of Properties 27
Gross Leasable Area 3.5 Million SF
Total Capitalization $700 Million
Estimated Annual Base Rental Income $40 Million
Estimated Annual Net Operating Income $36 Million
Overall Average Rent / SF (Retail) $13.9
Major Tenants (% of retail Base Rent) Royal Ahold (11.1%)
  Delhaize (5.9%)
  Price Chopper (3.8%)
  CVS (2.5%)

Case Studies

Heritage Park Plaza

A 116,840 SF grocery anchored shopping center located approximately 4 miles southeast of Springfield, MA.  Stop & Shop Supermarket is joined by other well recognized tenants Dollar Tree, Panera Bread, iParty and 99 Restaurant. The 47.5 acre site was originally developed in 1974, is highly visible off heavily traveled Route 83 and lies at the center of more than 90,000 residents within a 3 mile radius


East River Park Shopping Center

A 150,582 SF grocery anchored shopping center located 5.5 miles east of central Washington DC with over 200,000 people living within 3 miles. The long standing property is occupied by a diverse range of regional and local tenants serving a dense  market with   limited direct neighboring competition. The surrounding area has been remarkably redeveloped with recent public and private investment


Westgate Plaza

A 171,909 SF grocery anchored shopping center located 30 miles west of Washington DC in affluent Prince William County originally constructed in 1964 with additions and improvements in 1988, 1994 and 2006 and a growing population of over 150,000 with $100,000 average household income in a 5 mile radius. The center features remarkable visibility and ease of access with five distinct points of ingress/egress and has 53,000 average daily passing vehicles.  Its central location and institutional quality represent a continual appeal to national retailers.


Derry Meadows Shoppes

A 186,997 SF grocery anchored shopping center located approximately 40 miles north of Boston, MA and 13 miles south of Manchester, NH. The property was built in 2000 and is located in the New Hampshire’s fourth most populous city with three and five mile populations of 32,000 and 59,000 and average household income of $77,000 and $89,000.  Derry Meadows offers a strong tenant roster including Hannaford Supermarket, Dollar Tree, TD Bank, Burger King and GameStop. 


Stop & Shop Plaza

A 122,718 SF grocery anchored shopping center situated on 13.9 acres just off of Route 190 in Enfield, Connecticut, the midpoint between Springfield, MA and Hartford, CT.  The property was acquired from Centro Properties in March, 2009 with 15% vacancy.  Katz Properties recognized the potential to add value by aggressively pursuing lease-up of the vacant space.  The market is recognized as one of the strongest retail communities in new England adjacent to Interstate – 91, which has a traffic count of 98,200 cars per day 


Southampton Shopping Center

A 147,949 SF grocery anchored shopping center conveniently located on 2nd Street Pike, connecting Bucks and Montgomery County, 15 miles north of Philadelphia.  Giant Foods, the area’s dominant grocer, occupies 42% of the GLA and is currently achieving over $30 Million in gross sales, leading the market. The 3 mile radius population and average household income are 60,000 and $89,000, respectively, and Katz is in the process of increasing in-place rents to market.  The lease is guaranteed by Royal Ahold (S&P BBB).


Executive Team

Daniel Katz
Principal

Daniel Katz founded Katz Properties in Boston in 2003 and subsequently opened offices in New York and Philadelphia. Aside from guiding overall corporate strategy Daniel is primarily responsible for sourcing acquisition opportunities and developing strategic venture partnerships for Katz Properties. Through his leadership Katz Properties has built a premium portfolio of grocery anchored shopping centers in the high density markets of the Northeast and Mid-Atlantic United States. Since the 2008 economic downturn Katz Properties has acquired over 2.5 Million square feet of grocery anchored retail properties with market value in excess of $350 Million.

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Prior to founding Katz Properties, Daniel was part of a team at RHS Realty Associates that leased and managed numerous office and retail properties in New York City. While at RHS, Mr. Katz also independently syndicated and managed the acquisition, redevelopment and disposition of several multifamily residential properties.

Daniel holds a B.S. in Entrepreneurial Studies and Finance from the University of Hartford. He is an active member of ICSC and currently serves on the ICSC Government Relations Committee. Daniel has previously served on the ICSC New York Next Generation Advisory Board.


Daniel Kaufthal
Principal

Before joining Katz Properties in 2008, Daniel had been an advisor to the firm since its inception in 2003, and an active partner in all of its projects. He is responsible for managing the due diligence process and loan execution for all of the company’s acquisitions, and he oversees all financial activity for the company and its portfolio.

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Prior to joining Katz Properties in 2008, Daniel was Vice President of Celestial Capital Group, where he focused primarily on acquisitions of value-add office and retail properties in the New York metropolitan area. He was also involved in the management of Celestial’s existing portfolio of office and retail properties.

Daniel started his career in the real estate industry at Roseland Property Company, where he trained in a comprehensive development management program that included positions in finance, construction budget estimating and on-site construction management. As an Assistant Development Manager he was part of a team that was responsible for the oversight of all aspects of a $1.7 Billion, 200+ acre.

Press

New York investment company pays $54 million for OakLeaf Town Center

February 29, 2016 Financial News & Daily Record

The Sembler Co. sold OakLeaf Town Center on Friday for $53.6 million to Katz Properties LLC, a New York­based real estate investment and management company. ... read more


New York company buys Cook's Corner Shopping Mall

February 18, 2016 The Times Record

Katz Properties of New York has acquired the 302,003 square foot Cook’s Corner Shopping Mall in Brunswick for $13.25 Million.... read more


Westgate Plaza Trades for $43M in Off­Market Deal

February 18, 2016 GlobeSt.com

MANASSAS, VA—In 2012 the New York­based Katz Properties made its first acquisition in the Commonwealth of Virginia: Westgate Plaza, a 172,000­square­foot center on 8139 Sudley Rd., in Manassas that had been developed in 1964.... read more


Katz Properties Acquires Chambersburg Crossing in Pennsylvania for $45 Million

January 6, 2016 Shopping Center Business

Chambersburg, Pa. — New York City-based Katz Properties has acquired Chambersburg Crossing, a shopping center located at 925 Norland Ave. in Chambersburg, for $45 million.... read more


New York investor buys Pompano Beach shopping center for $46M

March 20, 2015 The Real Deal

Katz Properties closed on the 239,000 ­square ­foot Pompano Marketplace shopping center, marking their second major retail purchase in Southeast Florida. ... read more


Katz Properties sells Derry Meadow Shoppes to Slate Properties for $24.4 million

December 19, 2014 New England Real Estate Journal

According to Cushman & Wakefield, Derry Meadows Shoppes has sold to Slate Properties. The Cushman & Wakefield team, led by president Robert Griffin, executive vice president Geoffrey Millerd and senior associate Justin Smith, oversaw the $24.4 million transaction of the Hannaford-anchored retail center on behalf of Katz Properties. ... read more


NY-Based Investor Acquires Publix-Anchored Center

July 18, 2014 Globest.com

TAMARAC, FL—New York City-based Katz Properties has acquired the Sunshine Plaza shopping center here for $28.5 million. ... read more


Keene shoppping center sold for $31.2 Million

April 30, 2014 New Hampshire Business Review

Katz Properties of New York has acquired the 200,791 square foot Monadnock Marketplace shopping center in Keene for $31.2 million.... read more

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