Saks Inks First Bronx Deal With 25K-SF Discount Store in Bay Plaza Shopping Center
By Lauren Elkies Schram October 26, 2016 10:10 pm
reprints
Saks Fifth Avenue sister company Saks Off 5th is bringing the first Saks store to the Bronx at Prestige Properties & Development’s open-air Bay Plaza Shopping Center near Co-op City.
The new discount store will span 25,000 square feet at ground level at 200 Baychester Avenue, Jerry Welkis of Welco Realty told Commercial Observer. He represented Prestige along with colleague Etan Shalem. The Saks Off 5th will be next to K-Mart, he said.
“It’s a wonderful thing that we’re bringing an iconic fashion brand name to Bay Plaza Shopping Center and we’re thrilled they chose Bay Plaza as their first store in the Bronx,” Welkis said.
The lease, signed in August and recorded with the city yesterday, is for 10 years, according to public records, first spotted by The Real Deal. Welkis wouldn’t provide information about the asking rent.
“This will be the first Saks Off 5th store in the Bronx and we were able to find a great location at Bay Plaza Shopping Center,” a Saks Off 5th spokeswoman emailed. (Saks Fifth Avenue and Saks Off 5th are both owned by Hudson’s Bay Company.) “New York is a special place for Saks Off 5th and we are excited to extend the Saks Off 5th footprint to the Bronx and join the community. The new store, scheduled to open in summer 2017, will offer shoppers a compelling lineup of more than 800 sought-after brands and an ever-evolving selection of luxury designer fashion—all at up to 70 percent off.”
Tenants in the 1.2-million-square-foot Bay Plaza Shopping Center are Party City, Toys “R” Us, Babies “R” Us, Marshalls, DSW, P.C. Richard & Son, AMC Theatres, Modell’s, Stop & Shop, Carter’s, Pier 1 Imports and eateries like Dallas BBQ and Applebee’s. Prestige is also behind the adjacent 860,000-square-foot Mall at Bay Plaza, which had its grand opening in August 2014. Bay Plaza Shopping Center is today at least 95 percent occupied, Welkis noted.
Brian Katz of Katz & Associates represented Saks. He confirmed he did the deal for Saks but declined to comment further.
With additional reporting provided by Terence Cullen.
