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New York

Brooklyn store could be litmus test for post-bankruptcy Fairway

Grocery chain to open 40K sf space in Bergen Beach by the end of the year

Fairway Maket at 240 East 86th Street on the Upper East Side (credit: Fairway)
Fairway Maket at 240 East 86th Street on the Upper East Side (credit: Fairway)

Can grocery store chain Fairway shake off its recent bankruptcy? A new store in Brooklyn’s Bergen Beach neighborhood may provide the answer.

The 40,000-square foot store at Georgetown Shopping Center, for which Fairway signed a 20-year lease in 2015, is the firm’s first new store to open since it emerged from bankruptcy earlier this year. And according to a report, the new store is already spurring retail leasing and investment activity in its immediate surroundings.

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Hudson Companies recently bought six apartment buildings near the supermarket.  And at the Georgetown Shopping Center, three new retail tenants have signed on since Fairway inked its lease: Carter’s, Oshkosh and Five Below.

The new Fairway market, its 14th location in the New York area, is expected to open by the end of the year. [Crain’s] — Konrad Putzier 

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BankruptcyFairway Market