Kings Highway Plaza, located at 5200 Kings Highway in East Flatbush, Brooklyn, recently celebrated the grand opening of Target, Five Below and Smashburger totaling nearly 65,000 square feet of leased space. Approximately 15,000 square feet is currently available. Geoff Bailey, Managing Director at New York City’s premiere retail brokerage, RIPCO Real Estate (RIPCO) is representing the over 80,000-square-foot Kings Highway Plaza project on behalf of Bridges Development Group.
These three deals exemplify the demand and need for brick-and-mortar retail and differentiated food options in underserved boroughs, even as online retail continues to grow. Leasing interest and activity has accelerated for this site during the COVID-19 pandemic.
“With nearly 350,000 residents in the neighborhood surrounding Kings Highway Plaza, the site offers much-needed food and retail access to the local community,” said Bailey. “Smashburger has been performing extremely well since its recent opening and we anticipate great success for Target and Five Below. We are negotiating deals for the two remaining spaces and hope to have more tenant announcements soon.”
RIPCO, represented the landlord in all transactions with Jeff Howard of RIPCO representing Target, Erin Grace and Hillary Sievers of JLL representing Five Below and Miles Mahoney and Chris Walter of RIPCO representing Smashburger. Two more sites are available for lease, including a 10,600-square-foot selling level space ideal for apparel, shoes or home furnishings and a 3,742-square-foot ground floor space which could be used for boutique fitness centers and QSRs (quick serve restaurants), to name a few. The larger space shares a common lobby with Target and Five Below while the ground floor space boasts over 80’ of frontage on Kings Highway. Both spaces have significant exterior signage and excellent visibility.
Located at the intersection of Kings Highway, Utica Avenue and Glenwood Road, Kings Highway Plaza offers over 200 free rooftop parking spots. The shopping center is situated between East Flatbush, Flatlands and Canarsie and neighbors other major tenants, including the Kings Plaza Mall, BJ’s, Canarsie Plaza and CVS.
For more information and listings from RIPCO please visit www.ripcony.com
About Ripco Real Estate
Ripco Real Estate, founded in 1991, is the premier retail brokerage firm in the New York metropolitan area with services including leasing, investment sales, and property management. The firm has leased millions of square feet of retail space on behalf of major landlords and developers, as well as nationally and internationally renowned retailers. Ripco prides itself on local market expertise with a national reach and employs over 100 real estate professionals across offices in New York City, Brooklyn, New Jersey, Connecticut, and Long Island. For more information, visit www.ripcony.com.
