Retailer Marshalls Opens 31K-SF Store at Liberty Bklyn

Marshalls has taken up a 10-year tenancy at Liberty Bklyn.

The off-price retailer secured 31,470 square feet of ground-floor space at Madison Capital and Salmar Properties’ 850 Third Avenue in Sunset Park, Brooklyn, according to a Wednesday announcement from the landlords.

The transaction leaves the retail component of the eight-story, 1.3 million-square-foot mixed-use complex fully leased up.

“Securing a high-quality retailer like Marshalls at 850 Third Avenue underscores the strength of Liberty Bklyn as a premier location for retail, industrial and office tenants,” Ryan Buoye, vice president at Madison Capital, said in a statement. 

Ripco Real Estate’s Esther Bukai represented Marshalls, while RTL’s Lee Block and Jeff Winick negotiated on behalf of ownership. The parties did not disclose the asking rent for the decade-long lease, but the asking rent for an industrial lease there reported by Commercial Observer in early 2025 totalled $24 per square foot.

The waterfront destination between 30th and 32nd streets has attracted a diverse array of tenants since Salman first purchased the asset for $11 million in 2011. Recent deals include a 15,000-square-foot lease for the production facility of boba tea chain Xing Fu Tang, as well as a 19,000-square-foot office deal for New York City’s Administration for Children’s Services. 

In addition to large floor plates and warehouse spaces, the building features a 3.2-acre rooftop farm and a 386-space parking lot.

A spokesperson for Marshalls did not immediately respond to a request for comment.

Emily Davis can be reached at edavis@commercialobserver.com.