Muss Development LLC, in the midst of repositioning Jackson Heights Shopping Center, has secured both end-caps to major credit tenants, Petco and Santander Bank.
Petco has signed a new, long-term lease and Santander Bank has signed a long-term extension and relocation within the shopping center.
Petco will lease 13,500 s/f comprised of approximately 11,000 s/f on the ground floor and 2,500 s/f in the basement of the stand-alone building within the shopping center.
Santander Bank, formerly known as Sovereign Bank, will relocate from the ground floor location it has held for the last 20 years to the opposite end-cap retail unit, taking 4,000 s/f formerly occupied by Rainbow Shops.
The building’s redevelopment will create new space for a variety of uses that, including 11,000 s/f on the second floor and 7,500 s/f in the basement.
Muss Development principal Jason Muss. “As the only large-scale shopping complex covering a broad base of retail needs that serve this ethnically diverse, strong, and up-and-coming neighborhood, it has been a focal point of the community for over half a century and is an excellent location for the tenants.”
Bill Bergman, of Muss, represented the building owner in the Petco transaction; Brian Schuster, of Ripco, represented the tenant. Bill Bergman and Stan Markowitz, of Muss, represented the building owner in the Santander Bank transaction; Dean Rosenzweig and Jeremy Scholder, of CBRE, represented the tenant.