With property values continuing to skyrocket, this year saw a number of real estate records broken — but not in the retail market.
As compared to the 100,000-plus-square-foot deal inked in 2014 Bed Bath & Beyond in Sunset Park, Brooklyn’s biggest 10 retail leases in 2015 were comparatively small.
According to a list compiled by The Real Deal, the lease signed by grocery giant Wegmans — 74,000 square feet with Steiner NYC at 63 Flushing Avenue, at the current site of Admiral’s Row in the Brooklyn Navy Yard — was the borough’s biggest contract of the year.
Other large leases include a 40,000-square-foot, ultra-discount Forever 21 spinoff on Fulton Mall and City Point‘s 30,000-square-foot DeKalb Market Hall — two of three Downtown Brooklyn leases that made the top 10.
There were also two separate leases for Trader Joe’s grocery stores, one in Williamsburg, the other in DeKalb Market Hall. A Saks Off Fifth signed a lease on 3rd Avenue in Sunset Park, and Fairway took a 40,000-square-foot space for a store in Bergen Beach.
Notable in the list is the overwhelming presence of food and home stores. There were many fewer apparel companies in the top ranks compared to previous years, a stark contrast to 2014’s clothing-heavy leasers.
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