Beach Shopping Center Route 6 Peekskill, NY Case Studies Home   Located approximately 35 miles north of New York City, Beach is an example of an urban core project located in a suburban retail corridor. The market is multi-ethnic, including 16% Hispanic and 14% African-American, with strong projected minority population growth. When DLC purchased Beach in 2000, the center was a long neglected asset that was rapidly approaching obsolescence. Occupancy was only 73%, and many of the existing tenants were looking for alternative retail sites. Post acquisition, Grand Union, the center’s supermarket anchor, filed for bankruptcy. Tapping into a key retail relationship, DLC structured a 25-year lease with Stop & Shop to provide this leading grocer with a new 65,000 square foot flagship store and cover the cost of redeveloping the center. To create enough room to build a new Super Stop & Shop, DLC negotiated moving CVS to a new 12,150 square foot build-to-suit pad site. Stop & Shop required adding a new entrance to the center, and DLC secured approvals from the City of Peekskill, Westchester County and the New York State Department of Transportation. DLC also secured all approvals and variances under the State Environmental Quality Review Act in only six months (the typical period is two years or longer). Since the redevelopment was completed in November 2004, the Peekskill community, numerous retailers and local consumers are all enjoying a totally new retail experience.