Queens Retail Market Shows Strength

NEW YORK CITY-Sholom & Zuckerbrot Realty LLC has completed its leasing assignment on behalf of Cord Meyer at the recently expanded Bay Terrace Shopping Center in Bayside, Queens. The largest open-air regional center in Queens, which has more than 260,000 sf of retail space and a 1,500-car parking lot, is now 100% leased. The Bay Terrace has now increased its tenancy to more than 50 merchants, adding approximately 26,000 sf of additional store space.

S&Z’s EVP Franklin Zuckerbrot and managing director Douglas Weinstein were responsible for the leasing campaign. New tenants to the property include the Men’s Wearhouse, Bombay Co., Stride-Rite Shoes, Kinkos, Camelot, Chicos and Quiznos Subs. Recent tenant relocations and expansions include Duane Reade and the Children’s Place.

“We are pleased to have been involved with this year-long assignment to bring The Bay Terrace to a 100% occupancy rate,” says Zuckerbrot. “The retail market in Queens is very strong.”

Adds Weinstein, “We were able to achieve some of the highest rental rates within the region which is a testament to the existing tenant’s sales volumes.”

Other tenants at the center include Waldbaums, Loews Cineplex, Barnes & Noble, the Gap, Ann Taylor Loft, Express, Victoria’s Secret, Outback Steakhouse, Applebee’s, KB Toys, Structure, Foot Locker and Ben’s Deli.

S&Z also negotiated a long-term lease on behalf of Northern Autogroup, a Long Island City-based auto dealer, for their third dealership on Northern Boulevard. The property, located at 37-15 Northern Blvd., is the former Daewoo Motors automotive showroom and comprises a 7,000-sf building with an 11,000 sf parking lot. Zuckerbrot and Weinstein, managing director of S&Z, represented the owner of the property, as well as the tenant.

“This deal reflects the continued strength of Northern Boulevard as the dominant destination retail corridor serving Western Queens,” notes Zuckerbrot.

Founded in 1962, Sholom & Zuckerbrot is a full-service real estate firm offering office, retail, industrial and investment brokerage and management, plus development and build-to-suit projects.