The CPEX New York Retail Leasing Team has completed a lease agreement with Duane Reade at 4714 16th Avenue in Brooklyn.
Located on the corner of 48th Street and 16th Avenue in Borough Park, the property is a newly developed mixed-use building totaling four stories, including three residential floors above one ground floor commercial unit.
Duane Reade, which is relocating from across the avenue, will occupy approximately 3,232 s/f on the ground floor with 1,620 s/f of basement storage space. The space offers approximately 100 ft. of frontage along 16th Avenue as well as 40ft. on 48th Street.
CPEX’s Retail Leasing Team, consisting of managing director Ryan Condren and associates Kristina Triglia and George Danut, represented the landlord. Duane Reade was represented by Winick Realty Group.
“This lease is a testament to the investment that the landlord made in building out the ground floor,” said Triglia. “Despite already being located on 16th Avenue, Duane Reade was enticed by the new construction to move across the street into the more modern space.”