The Mall at Bay Plaza locked in another large tenant just ahead of the Bronx shopping center’s opening today. XSport Fitness finalized a lease for 37,000 square feet on the third and fourth floors last week and all tenants sign a 10-year lease, the New York Observer reported. The operator of 24-hour gyms is expected to open for business at Bay Plaza in the second half of 2015, according to the website.
CBRE’s Michael Kadosh was the broker for XSport, while Jerry Welkis of Welco Realty represented Prestige Properties, the mall’s developer.
Prestige CEO Sam Shalem told the Observer rents at the complex range from $100 to $200 per square foot. He added that the mall is now 70-percent occupied and 86-percent leased.
The Mall at Bay Plaza opens today following a two-year, $300 million construction job, the New York Daily News reported. The 780,000-square-foot complex is New York City’s first new suburban-style mall in four decades. [NYO] and [NYDN] – Tom DiChristopher