A video game store, an eyeglass shop and Starbucks are moving into 395 Flatbush Avenue Extension, a strip mall that had been peppered with vacancies for years.
Game Champ, which both sells and repairs video games, and Cohen’s Fashion Optical signed leases in the last month, Zach Mishaan of Winick Realty Group, who handled all the transactions for Rabina Properties, told The Real Deal today. Starbucks inked its deal a few months ago. Rent for each space: $150 per square foot.
Mishaan credited the Barclays Center with bringing attention to Downtown Brooklyn, about a half mile away. Mishaan estimated that retail rents in the submarket have at least doubled since the arena opened.
“As the Barclay’s Center continues to expand the need for retail on the strip, and as nearby residential and business developments attract more customers, the Flatbush Avenue corridor continues to grow,” he said.
Starbucks took a 1,243-square-foot storefront, Game Champ leased 1,107 square feet and Cohen’s signed for 1,100 square feet. Diana Boutross, also of Winick, represented Starbucks and Cohen’s; colleague Matthew Schuss helped on the Cohen’s deal. Mishaan represented both sides in the Game Champ deal.
Starbucks opened this week; the other two stores will be open within 60 days, Mishaan said.
The storefronts have frontage on the busy corner of DeKalb Avenue and Flatbush Avenue Extension, across the street from Long Island University.
A 3,343-square-foot space is still available for lease in 395 Flatbush Avenue Extension, with the same asking rent as the other spaces.