Commercial Klutch: October Edition
Our masked correspondent is back with a gutsy prediction about where Apple will set up shop in Brooklyn. Many have predicted that retail around the Barclays Center will change dramatically over the next couple of years. We believe there will be a complete change in almost every store over time. Luckily several of the area’s…
Our masked correspondent is back with a gutsy prediction about where Apple will set up shop in Brooklyn.
Many have predicted that retail around the Barclays Center will change dramatically over the next couple of years. We believe there will be a complete change in almost every store over time. Luckily several of the area’s landlords are above-average owners in for the long haul who will hopefully make good choices in their tenants. Many are wisely holding out for the best rents and tenants. All manner of food and beverage operators as well as those marketing products are panting for property, with far more tenants in the market than spaces available. You’lll see a ripple effect several blocks away over time, and a strong impact next year in the immediate area. Online ticket marketplace StubHub is said to be paying $10,000 a month for a space, above, under 2,000 square feet on the 500 block of Atlantic west of 4th Avenue that is steps from Barclays and within view.
Of course food and beverage probably will dominate the blocks closest on Flatbush Avenue, yet there may be some surprises as well. Long holding out for local service tenants, 625 Atlantic now seeks a sports bar. The retail space at 470 Vanderbilt will benefit, as well as the previously noted 500 block of Atlantic. Watch some of those sleeper properties in the surrounding area pop. And this month don’t miss the haunted house at 604 Pacific and the Spirit of Halloween store nearby!
Auto traffic hasn’t been nearly as bad as feared, due to driver avoidance, the many street agents and very clever routing changes.
We have long believed Apple will locate in the area, either at the base of a tower, replacing P.C. Richard and Modell’s, or in the new Steiner building across from BAM. Why here? Because it’s hard to find 24/7 areas in Brooklyn — which Apple needs. And with our theatrical and cultural district — BAM, BRIC, TNA, Roulette, MoCADA and more, plus that lovely steel arena — all next to the top subway stop in New York City — how can Apple resist?
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