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Urbanspace Opens 10,000-Square-Foot Food Hall in New York City

by Hayden Spiess

New York City — Urbanspace has opened Urbanspace Union Square, a 10,000-square-foot food hall in the Union Square neighborhood of New York City. Featuring 13 food-and-beverage concepts, the space is located on the ground floor of Zero Irving, a new mixed-use office building recently completed by RAL Development. Vendors include Summer Salt, Twenty One Grains, Kid Brother Pizza, Pita Yeero, Plant Junkie, Goat Café, Bao by Kaya, Bobwhite Counter, Playa Bowls, Wafels & Dinges, Top Hops, Casa Toscana and GoFish. Urbanspace Union Square marks the fifth New York City food …

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Urban Edge Signs New Leases Totaling 7,299 Square Feet at Shopping Center in Huntington, New York

by Hayden Spiess

Huntington, N.Y. — Three new tenants will join Huntington Commons, a retail center located on Long Island. CycleBar, GOLFTEC and iStretchPlus will lease a total 7,299 square feet at the property, which is currently undergoing redevelopment. Joining a soon-to-open ShopRite and newly relocated and updated Marshalls, the tenants will backfill a space previously occupied by Outback Steakhouse. Dan Glazer of Ripco Real Estate represented the landlord, Urban Edge Properties, in the negotiations. Glazer also represented CycleBa. Faronn Roboff of Royal Properties Inc. represented GOLFTEC.

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LeasingNew YorkNews

Adidas Signs 30,639-Square-Foot Retail Lease Renewal at 610 Broadway in Manhattan

by Hayden Spiess

New York, N.Y. — Adidas has signed a 30,639-square-foot retail lease renewal for its flagship store at 610 Broadway in Manhattan’s SoHo neighborhood. The sportswear giant has committed to the three-story space for an additional 10 years. The six-story building was originally built in 2004 and predominantly houses office space. JLL represented the landlord, LaSalle Investment Management, in the lease negotiations. Adidas was represented internally.

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Investment salesNet leaseNew YorkNews

Legacy Realty Group Advisors Brokers $53 Million Sale of 37-Property Dollar General Portfolio in the Southeast

by Hayden Spiess

New York City — Legacy Realty Group Advisors LLC has arranged the sale of a portfolio comprising 37 Dollar General-occupied stores located in the Southeast. An undisclosed net-lease REIT acquired the properties from a privately held real estate developer for $53 million. Jacob Baruch and Daniel Baruch of Legacy Realty represented both parties in the transaction. Legacy Realty is a commercial real estate advisory firm based out of New York that specializes in off-market transactions across the United States.

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DevelopmentMixed-useNew YorkNews

Reports: New York City Council Approves $2 Billion Mixed-Use Project in Queens

by Hayden Spiess

New York City — The New York City Council has approved Innovation QNS, a $2 billion mixed-use project that will be located in the Astoria neighborhood of Queens, according to reports from multiple news outlets including Crain’s and Patch. A partnership between BedRock Real Estate Partners, Kaufman Astoria Studios and Silverstein Properties is developing Innovation QNS, which will span five city blocks and will be an expansion of the Kaufman Arts District. The various reports differ on the exact size of the multifamily component, but the project page on the …

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Brooklyn Brewery to Open 41,000-Square-Foot Location in Brooklyn’s Williamsburg Neighborhood

by Hayden Spiess

Brooklyn, N.Y. — Brooklyn Brewery, an independent craft beer brewer founded in 1988, has signed a lease at 1 Wythe Ave. in the Williamsburg neighborhood of Brooklyn. Developers will begin work on the property later this year, and beginning in summer 2024, the brewery will occupy 41,000 square feet of the building’s 82,000 square feet. Nathaniel Mallon of Verada arranged the lease on behalf of the brewery and the landlords of the building. The move will put Brooklyn Brewing four blocks away from its current location.

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LeasingNew YorkNews

Newmark Arranges 4,500-Square-Foot Lease with GOLFTEC in Manhattan

by Hayden Spiess

New York City— Newmark Retail has arranged a lease with GOLFTEC, a golf instruction company, at 10 E. 40th Street in Midtown Manhattan. GOLFTEC will occupy 4,500 square feet of space at the ground-floor property, which comprises 8,000 square feet in total. Ariel Schuster and Tyler King of Newmark negotiated the lease on behalf of the landlord, Joseph P. Day Realty. This will be the flagship location for GOLFTEC, as well as its first standalone store in Manhattan.

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FinanceNew YorkNews

Triple Five Secures Financing for 3 Million-Square-Foot American Dream Development Near New York City

by Hayden Spiess

East Rutherford, N.J. — Triple Five — owners of American Dream — have secured financing for the 3 million-square-foot development, which is located in East Rutherford, roughly 13 miles outside of New York City. Financing, provided by a group led by JP Morgan, was obtained for an extended term of four years, maturing in October of 2026. Attractions at American Dream include DreamWorks Water Park, Nickelodeon Universe Theme Park, LEGOLAND Discovery Center, SEA LIFE Aquarium, Big SNOW Ski Hill and Dream Wheel. Retail and food and beverage tenants include Saks …

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Grocery-anchoredInvestment salesNew YorkNews

Kimco Acquires Eight-Property Shopping Center Portfolio on Long Island for $375.8 Million

by Hayden Spiess

Jericho, N.Y. — Kimco Realty (NYSE: KIM), a retail and mixed-use real estate REIT based in Jericho, has acquired a portfolio of eight shopping centers on Long Island. Kabro Associates, a privately held owner based in Woodbury, N.Y., sold the portfolio to Kimco for $375.8 million. Each of the eight retail centers, five of which are grocery-anchored, are located within a 15-minute drive of the Kimco corporate headquarters in Jericho. The centers in the sold portfolio include: • The Gardens at Great Neck • Woodbury Common • The Market Place • …

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Investment salesNew YorkNews

Horvath & Tremblay Brokers $18.6 Million Sale of Shopping Center in Webster, New York

by Hayden Spiess

Webster, N.Y. — Horvath & Tremblay has arranged the sale of Webster Plaza, a 154,991-square-foot retail center located in Webster, approximately 10 miles northeast of Rochester. Bob Horvath, Todd Tremblay and Jeremy Black of Horvath & Tremblay represented the undisclosed seller in the $18.6 million transaction. Tenants at the center, which is anchored by Savers, include a public library, Pet Supplies Plus, Starbucks Coffee, Subway, Fed-Ex, Yolickity, KeyBank, Bank of America and Burger King. KeyBank, Bank of America and Burger King occupy freestanding single-tenant buildings at the property.

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