Commercial Klutch: March Madness Edition

Here’s the latest scoop on all things commercial real estate from our source out in the field…
Irrational exuberance rules the retail market again, with rents back to pre-Crash highs and more tenants looking than space available. While holes remain in the market, businesses large and small seek space in the greater DTB area. Rising rents rippling down Court many blocks south from the mighty Atlantic’s Trader Joe’s, with a national slowly slowly leasing the former Beastly Bite space; fancy Moscot arriving; Douglass Elliman paying up for corner space; and Park Slope’s Goldy + Mac the latest addition to Cobble’s Hill “Ladies Mile,” rounding out the bunch at the late, lamented Bococa’s former home. Watch for $100 a foot north of Union next. We hear TD Bank adding a 7-day a week branch to the steel arising on Court and Union as well as, yes, the now lovely 4 Flatbush corner.

We welcome Sephora to Court & Joralemon city space corner next year, where B & H is rumoured to be eyeing adjacency.

Speaking of slowly slowly, we hope the lease out to Century 21 at Citypoint inks, furthering strengthening Fulton Mall’s discount shopping mission. Numerous tenants circle the almost Filene’s Basement Syms space, again we wish another top discounter. Panera opened, testing lure of known mall name to draw lunchers across Adams from Court-side.

Battersby is the latest trend splendorous eatery to hit Smith, where restos dare to roam amidst brutal competition. Ceol for sale and others sure to be replaced by irrational money seeking same in food and drink. Do we all? Burgers on Smith is a test of that odd Fang space. Hang in the back, great room.

On Atlantic, try Colonie too, not cheap, bespoke never is, and check out where Montreal Bagels never quit. Maybe smaller is better. Tripoli offered, terms terrifying. Hey, are we buying a chateau in the Heights?

Sky’s the limit in the Arena orbit, where exuberant money chases space to dispense liquid exuberance. We imagine that with rents in mid-hundreds some watering holes will airball, though most will slam dunk. What’s 604 Pacific going to do?