The Real Deal New York

Conway Stores takes space at Related’s Gateway Center

alternate textRendering of the Gateway Center at Bronx Terminal Market

New York City-based discount department store Conway Stores has taken 18,000 square feet at the Related Companies Gateway Center at Bronx Terminal Market, located near the new Yankee Stadium, bringing the approximately 1 million-square-foot mall to 90 percent occupancy. 

Abe Cohen, president of Conway, and Adam Goldschmidt, Conway’s in-house director of leasing, represented Conway in the deal. Peter Ripka of
Ripco Real Estate brokered the deal on behalf of Related.

So far, two stores have opened at the mall — Home Depot, on April 23, and Staples, on June 6 — with the next tenant, Target, scheduled to open July 26. Restaurant chain Applebee’s projects an opening of its location at the mall at the end of August.

The majority of the remainder of the mall’s tenants are expected to open up by September, including Best Buy, BJ’s Wholesale Club, Bed Bath & Beyond, Toys “R” Us, Babies “R” Us, Payless ShoeSource, AT&T, Marshalls and GNC.

Related faced community opposition to the $500 million development, including accusations that the new big-box stores would steal business from local retailers, and displace others. The developer settled a suit for an undisclosed amount of money with the roughly two dozen stores that were forced to move. It has also promised to hire locally, a commitment which has been honored so far by Home Depot’s bringing onboard Bronx residents to make up 75 percent of its 200 employees.

Meanwhile, the developer will go before Community Board 7 tonight to discuss its plans for a $323 million, 588,000-square-foot shopping center at the Bronx’s Kingsbridge Armory, at 29 West Kingsbridge Road, the Observer reported. Related is expected to face demands from community groups and labor unions for a minimum wage requirement in stores at that project.

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