Kings Highway Plaza, located at 5200 Kings Highway in East Flatbush, Brooklyn, recently celebrated the grand opening of Target, Five Below and Smashburger totaling nearly 65,000 s/f of leased space. Approximately 15,000 square feet is currently available.
Geoff Bailey, Managing Director at RIPCO Real Estate (RIPCO) is representing the over 80,000 S/F Kings Highway Plaza project on behalf of Bridges Development Group.
The three deals exemplify the demand and need for brick-and-mortar retail and differentiated food options in underserved boroughs, even as online retail continues to grow. Leasing interest and activity has accelerated for the site during the COVID-19 pandemic, according to Bailey.
“With nearly 350,000 residents in the neighborhood surrounding Kings Highway Plaza, the site offers much-needed food and retail access to the local community,” said Bailey. “Smashburger has been performing extremely well since its recent opening and we anticipate great success for Target and Five Below. We are negotiating deals for the two remaining spaces and hope to have more tenant announcements soon.”
RIPCO, represented the landlord in all transactions with Jeff Howard of RIPCO representing Target, Erin Grace and Hillary Sievers of JLL representing Five Below and Miles Mahoney and Chris Walter of RIPCO representing Smashburger.
Located at the intersection of Kings Highway, Utica Avenue and Glenwood Road, Kings Highway Plaza offers over 200 free rooftop parking spots. The shopping center is situated between East Flatbush, Flatlands and Canarsie and neighbors other major tenants, including the Kings Plaza Mall, BJ’s, Canarsie Plaza and CVS.