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LeasingNew YorkNews

Club Pilates Signs 3,500-Square-Foot Lease in New York City

by Hayden Spiess

New York City — Club Pilates has signed a 3,500-square-foot lease in New York City. The brand has opened a fitness center on the ground floor of The Delegate, a condominium tower located in Manhattan. Club Pilates, an affiliate of Midtown East Fitness and a subsidiary of Xponential Fitness, currently operates more than 800 studios globally. Jack Resnick & Sons owns and operates the retail space at the property. Fran Delgorio and Brett Greenberg represented the landlord in the leasing negotiations on an internal basis, with Arial Schuster, Ross Berkowitz, Andrew …

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Marcus & Millichap Brokers $11.7 Million Sale of Retail Center in Brooklyn

by Hayden Spiess

New York City — Marcus & Millichap has brokered the $11.7 million sale of a retail center located in Brooklyn in New York City. Totaling 26,260 square feet, the property was fully occupied at the time of sale by five ground-floor tenants, with a 12,000-square-foot A+ Kidz Academy occupying the second floor. 7-Eleven and Clean Rite anchor the property. Scott Plasky and Alexander Arustamian of Marcus & Millichap represented the undisclosed seller in the transaction. 

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Vibrant Emotional Health Partners with Shopping Center Owners to Install Signs at 1,450 Properties

by Hayden Spiess

New York City — New York City-based Vibrant Emotional Health, the administrator of 988 Lifeline, has partnered with shopping center owners in an initiative to increase awareness of emotional support services for individuals in distress. Installation of the signage, which will total 8,400 weather-resistant metal signs across 1,450 properties, began in September and is scheduled for completion by the end of 2024. Shopping center owners involved in the initiative include Brixmor Property Group, Kimco Realty, Kite Realty Group, Peterson Cos., Regency Centers, Sterling Organization and Urban Edge Properties. 

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CBRE Brokers Sale of 68,842-Square-Foot Single-Tenant Retail Property in New York

by Hayden Spiess

Somers, N.Y. — CBRE has arranged the sale of a 68,842-square-foot single-tenant retail property located in Somers, roughly 40 miles north of Manhattan. Stop & Shop fully occupies the building, which is situated within Somers Commons, a 134,760-square-foot retail center. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, Ceruzzi Properties, in the transaction. CBRE also procured the buyer, an undisclosed institutional investor.

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LeasingNew YorkNews

Nordstrom Rack to Open 24,000-Square-Foot Store in Bay Shore, New York

by Hayden Spiess

Bay Shore, N.Y. — Nordstrom Rack, the off-price retail division of Nordstrom, will open a 24,000-square-foot store in Bay Shore, a hamlet on Long Island. Situated within Gardiner Manor Mall, the store is scheduled to open next spring. Other tenants at the property include HomeGoods, Barnes & Noble, Michaels and Old Navy. Kite Realty Group Trust is the landlord. This will mark the third Nordstrom Rack outpost in the state. 

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Target to Close Nine Stores Across Four States

by Hayden Spiess

Minneapolis — The Target Corp. has announced plans to close nine stores in four states. Scheduled to close Oct. 21, the stores are located in New York City; Seattle; Portland, Oregon; San Francisco; and Oakland, California. In a statement, the brand attributed the closures to the fact that “theft and organized retail crime are threatening the safety of [its] team and guests and contributing to unsustainable business performance.” 

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Tiger Woods, Justin Timberlake Open 22,000-Square-Foot Eatertainment Concept in New York City

by Hayden Spiess

New York City — Tiger Woods and Justin Timberlake, in partnership with NEXUS Luxury Collection and 8AM Golf, have opened a 22,000-square-foot sports and entertainment bar between Bryant Park and Grand Central Station in New York City. Dubbed T-Squared Social, the venue offers Full Swing golf simulators, duckpin bowling, darts and more than 35 televisions for sports-watching, as well as food and beverages. ForrestPerkins designed the space, which features 24-foot open ceilings, a 32-foot bar, dining and lounge areas and a private event room. 

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FinanceNew YorkNews

G.S. Wilcox Arranges $10.6 Million Refinancing for Retail Property on Long Island

by Katie Sloan

East Farmingdale, N.Y. — G.S. Wilcox has arranged a $10.6 million loan for the refinancing of a 34,877-square-foot retail property located in the Long Island community of East Farmingdale. The property consists of four buildings on a 6.9-acre site. David Fryer of G.S. Wilcox arranged the loan, which carried a 15-year term and a 30-year amortization schedule. The borrower and direct lender were not disclosed.

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