The Journal reports that the Triangle Sports building on Flatbush and 5th Avenue, right across the street from Barclays Center, is for sale. The family-owned store has been in business for nearly 100 years. Its owners cite the economy and “pressure from big-box stores” as reasons for calling it quits, and they’re looking to capitalize on demand for space near the arena. Brokers and other business owners in the area, meanwhile, are talking up how much demand the arena is supposedly generating for commercial space. Here’s what’s going away: “The Flatbush Avenue location of Triangle Sports was an anomaly among small business in the rapidly gentrifying area. It often kept erratic hours and shoppers had to climb a narrow staircase to reach top floors of the shop. But it also had a devoted following of shoppers who liked the customer service and selection of apparel that included Levi’s and Red Wing boots.” And here’s what’s coming: “The retail landscape has been altered throughout the past decade as national chains such as Target and Applebee’s have moved into the Atlantic Center mall along with upscale boutiques on the side streets off Flatbush Avenue. ‘This trend is going to accelerate in a monumental way as we get closer to the arena opening,’ said Timothy King, managing partner with CPEX Real Estate.”
Bowing to Change [WSJ] GMAP
Photo by PropertyShark
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