Business & Tech
Sears, Kmart Owner Buys Bohemia Shopping Center Sayville Plaza
Transformco has purchased the 237,000 building that was recently leased by At Home, Floor & Decor, Aldi and that used to house a Kmart.
BOHEMIA, NY— According to real estate news site The Real Deal, the owner of the downsized Kmart and Sears has purchased Sayville Plaza. The shopping center, on Sunrise Highway in Bohemia, has been largely vacant after its anchor store Kmart closed in early 2020.
Now Illinois-based Transformco has purchased the retail center, with 237,000 square feet of retail space on 24 acres. Transformco owns Sears and Kmart, which saw 95 locations nationwide shutter in a retail decline in 2020.
Recently, three retailers have signed leases at Sayville Plaza, which is undergoing a facelift. Discount grocer Aldi, warehouse-style Floor & Decor and At Home, a home decor store, are taking up the bulk of the space. Around 39,600 square feet is still available.
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Transformco purchased the center from Sayville Menlo, owned by a New Jersey private real estate investment trust, for an undisclosed amount. The Town of Islip assessed the property for $44 million.
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