Leases   ·   Retail

Day Care Center Ivy Prep Signs 15K-SF Lease in Staten Island

reprints


A day care center is leasing ​​15,458 square feet of space in the Dongan Hills section of Staten Island, Commercial Observer has learned.

Ivy Prep Early Learning Academy signed the lease for its second location in the borough at 17-19 Hylan Boulevard. The site is owned by RCM Group, which acquired the uncompleted site in foreclosure and finished construction once the tenant was secured, according to landlord broker Ripco Real Estate.

SEE ALSO: Green Street Advisors Expands to 12K SF at 10 Grand Central

The day care center between Seaview and Garretson avenues will have three stories and a 2,770-square-foot playground, according to Ripco, which did not disclose the asking rent or the length of the lease.

Real-time average retail asking rent along that area of Hylan Boulevard ranges between $33 and $55 per square foot, according to CoStar data.

“This project reflects the type of thoughtful, purpose-driven work our team is passionate about, identifying spaces that meet the operational needs of our clients while contributing positively to local neighborhoods,” Ripco’s Michelle Abramov, who represented the landlord alongside Greg Batista, said in a statement.

The tenant did not have outside representation in the deal.

The early learning center’s other locations are in Bayside, Queens; in the Throggs Neck section of the Bronx; and at 1779 Richmond Avenue in Staten Island.

Mark Hallum can be reached at mhallum@commercialobserver.com.