J. Crew sewing up lease in Cobble Hill: sources

TRD NEW YORK /
May.May 31, 2013 07:30 PM

As part of the further transformation of retail shopping in Brooklyn, the global apparel chain J. Crew is coming to a two-story building in Cobble Hill, according to two people familiar with the transaction.

The retailer signed a 10-year net lease last week for the building at 151 Court Street on the corner of Pacific Street, though some details still need to be ironed out, one person familiar with the deal said. J. Crew would take 2,349 square feet each on the ground floor, lower level and second floor.

J. Crew is not the only national retailer to move into the neighborhood. Trader Joe’s on Court Street and Barney’s Co-op, a lower cost unit of the designer department store, on Atlantic Avenue, are also nearby tenants.

The asking rent for the space was approximately $520,000 annually for a triple net lease, one source said.

Brokers at Schuckman Realty represented the landlord, Arista Real Estate Holdings, sources said. In addition, Ryan Condren and Kristina Triglia, both of CPEX Real Estate, were marketing the space on behalf of Arista.

The tenant was represented by Crown Retail Services and Open Realty, the insiders said.

Crown, Arista and J. Crew did not immediately respond to a request for comment. Open Realty, CPEX and Schuckman declined to comment.


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