MCB Real Estate, an institutional commercial real estate investment management firm and developer with nationwide holdings, and Osiris Ventures, an urban retail-focused investment firm, have secured leases with two major retail brands at Century Marketplace, the $130-million mixed-use redevelopment of the 14-lot Century 21 department store assemblage at 458 86th St. in Brooklyn’s Bay Ridge neighborhood.
A national grocery anchor has signed a lease at the property, becoming the first national grocer to serve the immediate Southwest Brooklyn trade area. National designer-discount retailer Burlington has also signed on, and together the two leases total 60,112 square feet. With these additions, the 120,000-square-foot Century Marketplace is now 65% pre-leased.
“Century Marketplace demonstrates MCB Real Estate’s ability to execute complex structuring while delivering high quality, attractive retail to dense markets,” said MCB principal Drew Gorman. “By bringing together a nationally recognized specialty grocery anchor, and top national retailers like Burlington, we are reigniting a well-known commercial corridor and unlocking long term value for Southwest Brooklyn.”
The post Century 21 Redevelopment Adds Burlington, National Grocer to Tenant Roster appeared first on Connect CRE.
