Sagehall, the investment firm run by former Extell Development chief Sush Torgalkar, has snapped up the retail hub at 750 White Plains Road in Scarsdale for $80 million, betting big on a suburban center that has been shifting from department stores to doctors and daily-needs tenants. The property was long anchored by large department-store footprints and recently included a Saks OFF 5th that closed earlier this year.
According to Commercial Observer, Sagehall acquired the roughly 200,000-square-foot property at about $400 per square foot. The outlet reported that the deal closed in late April and is one of several asset sales tied to Saks Global’s ongoing restructuring.
Property details and tenants
The listing on LoopNet pegs the site at roughly 220,000 square feet and highlights about 74,500 square feet of medical office space occupied by White Plains Hospital, along with fitness and home-goods brands. The property is described as being under renovation with multiple available suites, a clear signal that the new owner is working to re-tenant former department-store space and tighten up occupancy.
Saks Global's bankruptcy and the sell-off
Saks Global filed for Chapter 11 in January and has been selling off noncore real estate as part of its restructuring plan. In a company news release, Saks Global said it has an initial tranche of up to $500 million in committed capital, and reporting from the AP notes the company has announced dozens of store closures as it reshapes its portfolio.
Buyer background
Torgalkar, the former head of Extell Development, founded Sagehall to focus on value-add urban and suburban properties. As The Real Deal reported, this Scarsdale purchase follows his October 2025 acquisition of a former Lord & Taylor site in Stamford for roughly $62 million, underscoring Sagehall’s appetite for big-box and mixed-use plays across the region.
What comes next
Brokers from CBRE National Retail Partners represented both sides in the Scarsdale transaction, according to Commercial Observer. With the property showing active renovations and available space on the listing, Sagehall appears positioned to lean harder into medical, fitness and lifestyle tenants as it works to raise occupancy.
The sale highlights continued investor appetite for well-located suburban retail, even as luxury brands trim their brick-and-mortar footprints. For Scarsdale shoppers and local landlords, the pace and mix of Sagehall’s leasing moves will shape not just the center itself but the feel of that stretch of White Plains Road over the next year.
