It is going to get much easier for Bronx residents to buy coats.
The clothing stores Marshalls and Burlington Coat Factory—now known as just Burlington—will both open stores in the borough during the first quarter of 2018 at 2948 Third Avenue in the Hub, The Real Deal has learned.
Burlington, represented by Cliff Simon of CNS Real Estate, will take up 55,000 square feet of the building, and Marshalls, represented by Esther Bukai of RIPCO Real Estate,will take up 25,000 square feet. An additional 25,000 square feet of ground floor space at the site is still being marketed.
This will be the second South Bronx store for Burlington and Marshalls, as both retailers also have locations in the Bronx Terminal Market at 610 Exterior Street.
Bobby Cayre and Alex Adjmi, a pair of Manhattan investors known for their retail holdings, purchased the Bronx building in 2013 for roughly $23.2 million. They bought it from an affiliate of Richard Cohen’s discount clothing retailer Conway Stores.
The Hub, located at the intersection of East 149th Street, Melrose Avenue and Third Avenue in the South Bronx, has seen several new developments over the past few years. Construction started in late July on the first phase of the area’s massive La Central project, a five-building complex that will include 985 affordable housing units and a YMCA. The area is also home to a pair of boutique hotels—the Umbrella Hotel and the Opera House Hotel—And The Triangle Plaza Hub, a development that includes a Boston Market and a Fine Fare Supermarket.
Simon said the Burlington lease would be for 10 years and that they were interested in the space because of its location.
“It’s a terrific transportation hub, close to the subway and buses,” he said. “It’s An Old Historic Shopping Street with great density.”