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Deals & Dealmakers Retail

Retail Briefs: RKF sets up CityMD, Fabstylist signs 5-year deal in BKLYN

●cpex
Sprint signs in Park Slope

The CPEX New York Retail Leasing Team announced the completion of a lease agreement at 479 5th Avenue in Park Slope, Brooklyn.
The lease is with Sprint, which is taking over a short-term lease from a Sprint corporate pop-up.
The incoming tenant will occupy 1,210 s/f on the ground floor of a four-story mixed-use building located between 11th and 12th Streets.
CPEX’s Retail Leasing Team, consisting of Managing Director Ryan Condren and Associate Director George Danut, represented the landlord in negotiating the lease transaction. CBRE represented Sprint.
“After a brief promotional period, Sprint realized that there is long term value in having a presence on this stretch of 5th Avenue,” said Danut.
“Therefore, they encouraged one of their established franchisees to secure this site in a long term lease.”

●RKF
CityMD to open at Essex Crossing

RKF has arranged a 5,000 S/F lease for urgent care clinic CityMD at 138 Delancey Street.
This will become the walk-in medical center’s 11th Manhattan location and its first on the Lower East Side.

Essex Crossing
Essex Crossing

RKF Executive Vice President Ariel Schuster, Senior Director Andrew Connolly and Senior Associate Ike Bibi represented the owner, Eastside Management Enterprises, Inc., in the transaction, while Benjamin Birnbaum of Newmark Grubb Knight Frank represented CityMD.
According to Schuster, CityMD’s new medical facility — which will occupy the entire building — is situated in close proximity to the forthcoming one-million-square-foot mega-development, Essex Crossing, and directly outside the Delancey Street station.
“We worked diligently with ownership to reimagine the property and create a full building identity for CityMD,” said Schuster, noting that the property formerly served as the home of renowned kosher eatery, Ratner’s Restaurant.
“The building’s midblock presence at 138 Delancey Street provides a large format to accommodate CityMD’s growing number of patients, as demand for urgent care facilities continues to rise.”

● ripco real estate
Bob takes Fortunoff space

Ripco Real Estate has leased the former Fortunoff Building at 150 Route 17 northbound in Paramus, New Jersey to Bob’s Discount Furniture.
Without a permanent tenant since July 2009, Ripco was hired in mid-October 2014 to lease the property.
Five months later, through the efforts of Ripco’s New Jersey team, lead by Ira Kerner and Alison Horbach, the landlord has executed a lease with the successful retailer.
“With around 150,000 cars passing this highly visible signature Route 17 location daily, this should be a terrific location for Bob’s,” said Ripco’s Kerner.
BKR Services represented Bob’s in this transaction.

● realty collective
Salon takes Brooklyn space

Upscale hairdressing salon Fabstylist has signed a lease for a new 400 s/f space at 85 Ralph Avenue, Brooklyn.
Christopher Webb of Realty Collective represented the landlord and the tenant, an upscale salon designed to attract women and men for hair grooming.
The tenant signed a five year lease with a five year option with rent in the first year at $2,300 per month.

● Feil organization
Landlord feeds demand

After a major renovation of the center’s façade, a combination of Burger King and Popeye’s Restaurant will add much-needed dining options to Concourse Plaza Shopping Center in the Bronx this spring, announced The Feil Organization, the building’s owner and manager.
The franchisee will operate both restaurants in the 4,088 s/f leased. Occupancy is scheduled for this May.
Other tenants at Concourse Plaza include CVS, Food Bazaar Supermarket, Payless, and a 10-plex cinema on the lower level.
“This area is, pun intended, starved for good food options,” said Nicholas Forelli, Director of Leasing for The Feil Organization.
“Burger King and Popeye’s are a perfect fit to meet the needs of those working at and visiting the Bronx County Courthouses across the street, Yankees Stadium up the block and the 210,000 people living within one mile of the center.”
Two specialty shop spaces of 2,600 s/f and a 24,000 s/f junior anchor space are still available at Concourse Plaza Shopping Center.
Forelli represented Feil in the transaction. Burger King and Popeye’s were represented in-house.

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