PropUp Buys White Plains Mixed-Use for $50M

September 14, 2026

Investment Finance Mixed Use New York More News Northeast

The asset last traded in 2015.

Aerial shot of City Center, a grocery-anchored mixed-use property in White Plains, N.Y. — City Center is part of a larger mixed-use complex which includes several residential buildings. *Image courtesy of JLL Capital Markets*

PropUp Group has acquired City Center, a 361,948-square-foot mixed-use property in White Plains, N.Y. Kite Realty Group Trust sold the asset for $50 million, or approximately $130 per square foot.

JLL Capital Markets represented the seller and also arranged $39.2 million in acquisition financing through a regional bank.

City Center had previously traded in 2015, when Kite Realty Group Trust acquired the property from Cappelli Organization for $34.5 million, or $90 per square foot, Yardi Matrix data shows.

JLL Capital Markets Senior Managing Directors Kevin O’Hearn and Jose Cruz, together with Senior Director J.B. Bruno led the investment sales and advisory team that arranged the current sale on behalf of the seller and procured financing on behalf of the buyer.

A closer look at City Center

Completed in 2003, City Center is a grocery-anchored regional mall that also includes 24 affordable units. The property is part of a larger mixed-use complex comprising two luxury residential towers totaling 528 apartments and condo units, as well as a 365-unit Ritz-Carlton-branded condo property located across the street. Retail market trends reveal that mixed-use assets, alongside open-air centers situated in lifestyle-driven areas, have emerged as the preferred destinations in 2025, with retailers adapting their strategies to more personalized approaches, rather than a one-size-fits-all stencil.

Anchored by ShopRite, the property is shadow-anchored by a 154,000-square-foot Target on the lower level of the building and the 17,500-square-foot White Plains Performing Arts Center on the top floor. City Center’s tenant roster also includes Burlington, Nordstrom Rack, New York Sports Club and Apple Cinemas. The property was 91.5 percent leased at the time of the sale.

Located at 5 Mamaroneck Ave., City Center is in downtown White Plains, in proximity to Interstate 287. The property is also close to the White Plains Metro-North Railroad station, which connects the area to Grand Central Terminal, 27 miles south. City Center has 3.4 million annual visitors and serves a population of 59,000 individuals, with an average household income of more than $246,000 per year within a 5-mile radius, according to JLL.