Bed Bath & Beyond inked a lease for more than 100,000 square feet at Liberty View Industrial Plaza in Sunset Park, making the deal the largest retail lease in Brooklyn signed in 2014.
The retailer is planning to locate four of its stores — Bed Bath & Beyond, buybuy BABY, Cost Plus World Market and Harmon Face Values — on the second floor of the technology and industrial complex, according to the Wall Street Journal. Salmar Properties, the owner of the industrial plaza, has spent roughly $100 million over the last couple of years to overhaul the long-vacant industrial center. Salmar bought the building in 2011.
A project of this size by a major retailer will likely boost property values in the area, according to the newspaper. Industry City, a six million-square-foot complex with a wide range of tenants, is located nearby.
A CPEX Real Estate team led by Timothy King represented Salmar, while CBRE’s Lon Rubackin represented Bed Bath & Beyond. [WSJ] — Claire Moses