Early Childhood Educators Bright Start Sign Long Island City Lease
By Mark Hallum June 17, 2024 4:28 pm
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An early childhood development center is opening up at the Jasper development in the Hunters Point section of Long Island City, Queens, the landlords announced.
Bright Start Child Learning Center signed a lease for 4,545 square feet of interior and outdoor courtyard space at the property at 2-33 50th Avenue, which is owned in a joint venture among Domain Companies, LMXD, The Vorea Group and Bridge Investment Group.
The length of the lease and asking rent were not disclosed, but the average retail asking rent in Queens was $389 per square foot in the first quarter of 2024, according to a report from PropertyShark.
The school will be the fifth location in Queens for Bright Start, which specializes in providing care for children ages 3 months to 5 years.
“The shortage of retail space around the Long Island City waterfront paired with the growing residential population has created a compelling opportunity for businesses, especially along retail corridors like 50th Avenue, which are closer and more convenient to many residents,” Adam Joly of Igloo, the brokerage arm of Vorea Group, said in a statement, Joly represented the landlords alongside Rachel Cohen
The learning center isn’t the only retailer to take space at the base of the 550,000-square-foot residential development recently.
Club Pilates, a global Pilates brand, also signed a 1,955-square-foot lease for a studio in the property, as well as Glowbar, a facial studio, with 1,104 square feet, according to the landlords.
Bright Start and Club Pilates did not use outside brokers. A CBRE (CBRE) team represented Glowbar, but the brokerage did not immediately respond to a request for comment.
Mark Hallum can be reached at mhallum@commercialobserver.com.
