Grocer Union Market Signs 10K-SF Lease at 499 President in Gowanus

Grocery store Union Market, Italian cafe Corto and Spear Physical Therapy have signed leases in a new development in Brooklyn’s Gowanus neighborhood.

Union Market was the largest of the three, signing a 10,000-square-foot lease at 499 President Street, which was built by a joint venture involving The Brodsky Organization, Avery Hall and Battery Global Advisors.

The landlords did not disclose the asking rent or the length of the leases, but real-time retail asking rent in the area is $70 per square foot, according to CoStar data.

Union Market’s official address will be 532–542 Union Street, the landlords said.

“Our vision was to curate an array of retail partners for our residents at 499 President and the growing Gowanus community at large,” Alexander Brodsky, partner at The Brodsky Organization, said in a statement.

Evan Clements, Austin Knief and Colleen Morrissey of Atlantic Retail represented the landlord as well as Corto and Spear in the deals, while Mark Tergesen of ABS Partners Real Estate handled negotiations for Union Market.

Atlantic Retail and ABS did not respond to a request for comment.

“Gowanus is welcoming thousands of new residents who need an amazing neighborhood grocer,” Martin Nunez, co-owner of Union Market, said in a statement. “Bringing Union Market to the area just makes sense.”

Spear is already occupying a 2,500-square-foot space along Nevins Street, while Corto will operate out of an adjacent 1,000-square-foot space, according to the landlords.

Other tenants coming to the 350-unit, mixed-use building that wrapped construction in May include pizzeria Paulie Gee’s, which signed a 4,400-square-foot lease, New York YIMBY reported.

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