Triangle Equities Inks Deal for Aldi Supermarket in Brooklyn
Triangle Equities just signed German-owned supermarket Aldi for its 2201 Nostrand Avenue property in Flatbush, Brooklyn, Commercial Observer has learned. Aldi will occupy 20,110 square feet of the retail building in the fall.
Aldi will replace two former tenants: children’s clothing store The Children’s Place and wedding attire shop David’s Bridal. Peter Botsaris of Botsaris Morris Realty Group brokered the deal for Triangle Equities. Botsaris did not immediately respond to a request for comment.
“Aldi is a perfect addition to the Flatbush neighborhood, providing quality grocery product to the area during a time when many are dining from home,” Esther Bukai of Ripco Real Estate, who brokered the deal on behalf of Aldi, said in a statement. “We are increasing our volume of deals in this asset class and are actively looking for more sites.”
A representative for Ripco declined to provide the asking rent and length of the lease. CoStar Group estimates the rent as between $93 and $114 per square foot for the property.
The 300,000-square-foot Triangle Junction retail complex rests between Flatbush Avenue and Avenue H at Triangle Junction in Brooklyn. Other tenants include Target, HomeGoods, AT&T Wireless and Applebee’s, according to CoStar Group.
Update: This story has been updated to indicate that Ripco’s Esther Bukai brokered the deal for Aldi, not Triangle Equities as previously reported. Peter Botsaris represented the landlord, Triangle Equities.