Rockland Developer Alexander Property Holdings has bought Spring Valley Marketplace for $59.3 million, RCBIZ Journal reports. The shopping center will allocate nearly 100,000 square feet to house a Bingo Wholesale, a kosher superstore that is a joint venture between the Brooklyn-based Marav USA and Osher Ad, a grocery chain with 20 stores in Israel.
Alexander purchased the property from the Long-Island based Millbrook Properties, which bought the center in 2007 for $58.5 million. Millbrook acquired the property from DLC Management Corp. of Tarrytown after a successful expansion and redevelopment of the property that then lifted its occupancy rate from 30% to 100%.
While Bingo may specifically target Jewish customers, New York-based supermarket analyst Burt Flickinger III told App.com that what’s available at the store in terms of price, quality and other factors makes it “a United Nations of consumers.”