Sneaker Retailer Snipes Opening 7K-SF Store at Throggs Neck Shopping Center
By Isabelle Durso September 18, 2024 4:45 pm
reprints
Sneaker retailer Snipes is joining the lineup of stores at the Throggs Neck Shopping Center in the Bronx near Ferry Point Park.
Snipes signed a long-term lease for 6,854 square feet at Simone Development Companies’ 300,000-square-foot shopping mall at 815 Hutchinson River Parkway, according to the landlord. The retailer’s new store at the mall is set to open Nov. 21.
“Snipes is a welcome addition to this thriving retail development,” Josh Gopan, vice president of leasing for Simone, said in a statement. “The Throggs Neck Shopping Center offers an easy one-stop shopping experience and continues to be a sought-after location for top national, regional and local retailers.”
Simone declined to provide the length of the lease and asking rent, but a report from RM Friedland found retail rents in the Bronx averaged $58.64 per square foot during the second quarter of 2024.
Simone was represented by an in-house leasing team alongside the property’s exclusive broker, Royal Properties’ Karnit Mosberg, who declined to comment. JLL (JLL)’s Ryan Condren, who brokered the deal for Snipes, did not immediately respond to a request for comment.
Snipes has 750 locations across the U.S. and Europe, including multiple stores in Brooklyn, the Bronx, northern Manhattan, Queens and Staten Island. It will join anchor tenants Target and T.J. Maxx at the Bronx mall, as well as stores including Petco, Skechers, Mattress Firm, Applebee’s, Chipotle and Starbucks.
Simone acquired 815 Hutchinson River Parkway in 2010, when the property was a U.S. Postal Service distribution center. The developer then repurposed it into the shopping mall that’s there today.
And in March 2018, Simone landed a $68.5 million loan to refinance Throggs Neck Shopping Center, provided by French investment bank Natixis, as Commercial Observer previously reported.
The mall, comprising four commercial buildings, is just south of the intersection of the Cross Bronx Expressway and the Hutchinson River Expressway and stands alongside a multilevel, 650-spot parking garage.
Isabelle Durso can be reached at idurso@commercialobserver.com.
