The Real Deal New York

Acadia Realty Trust is a real estate investment trust with holdings primarily in the Tri-State Area, Washington, D.C., and Miami Beach. Currently based in Westchester County and founded in 1993, operates roughly 85 properties with more than 8 million square feet, among them 12 self-storage locations. In recent years Acadia has focused on grocery stores and other retailers. In 2004 the firm acquired the Mervyns Department Store chain, and two years later it bought nearly 700 stores from leading grocery and drug chain company Albertsons. It also purchased a few hundred stores from retailer Skopko and Midwest supermarket chain Marsh. In terms of New York City property, Acadia has focused primarily on the Upper East Side of late, buying commercial buildings and retail townhouses in 2015. Acadia is also known as developing the mixed-use center in City Point, in Downtown Brooklyn. The project is estimated to total more than 1.8 million square feet and include food purveyors, leading retailers, and condos.