Top 10 Retail Leases of the Month: Target Takes Brooklyn!
It’s true, we’re only 100 days into 2019, but New York City’s retail’s biggest lease (by a mile) was Target, which nailed down 90,000 square feet in a former Toys ‘R Us and Babies ‘R Us in Gravesend, Brooklyn, at the Ceasar’s Bay Shopping Center.
If the good folks at Target wish to celebrate, they have options as to where they could raise a glass. If they’re in the mood for a little vino, they could do so at the City Winery, which announced a 32,000-square-foot relocation to RXR and Youngwoo & Associates‘ Pier 57. If a mug of suds is more their speed, Collective Arts Brewery, a Canadian beer maker, is filling up an old Gowanus brewery at 519-529 Third Avenue, with a 16,000-square-foot microbrewery, tap room and restaurant as their first American venue.
Those who were long ago disappointed to learn that the long-expected Artisanal Fromagerie Bistro that was supposed to open at TF Cornerstone’s 387 Park Avenue South will never materialize will have, instead, a CVS Pharmacy, which has taken the 10,500-square-foot space. But we shouldn’t knock it too much. It’s drug stores and banks that keep the city’s leasing humming. To wit, JP Morgan Chase is opening a new 6,000-square-foot branch at at Ceruzzi Holdings’ 1289 Lexington Avenue.
On a slightly more exciting note, Brooklyn-based Woodstack, a boutique fashion shop, will open a new, 7,500-square-foot location at Eli Karp’s Hello Living’s mixed-use development at 1357 Flatbush Avenue Prospect Lefferts Gardens, Brooklyn.
And even though the school year is winding down, we learned that Vivvi, an employer-sponsored preschool operator, is opening its first campus in Hudson Square this summer at Trinity Real Estate’s 75 Varick Street, also known as One Hudson Square.
City Winery was not the only food and beverage operator that successfully inked a deal to relocate; Thai Sliders, the Thai restaurant in the Financial District, left its former spot at 108 John Street and has signed a 15-year lease for 5,765 square feet at the base of 27 Cliff Street.
The Bronx also got in on the fun last month when PM Pediatrics, a pediatric urgent care center, nabbed a 4,900-square-foot lease at 5740 Broadway in Kingsbridge, which is part of SD Urban Retail’s new 24,000-square-foot shopping center called The Shops on Broadway.
And speaking of leases outside Manhattan and Brooklyn, Roosevelt Island saw a new yoga studio announce its intentions: Island OM is moving into Hudson Companies and Related Companies’ Shops on Main at 521 Main Street, taking a 1,925-square-foot lease.