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Posted: Published on January 9th, 2013

This post was added by Dr P. Richardson

CBRE broker captures a big new tenant for Related Cos'. Gateway Center, a Brooklyn mall.

NEW YORK-Score oneand a big one at thatfor CBRE. The realty firm brought an atypically large ShopRite into Related Cos. Gateway Centera sprawling 630,000-square-foot shopping center in Brooklynfor which leasing has been handled not by CBRE typically but by Ripco Real Estate. The deal was closed by John Hanlon, senior vice president in CBREs Woodbury, NY office, who was previously with Ripco.

I had a previous relationship with the retailer, Hanlon tells GlobeSt.com in explaining how he negotiated the deal. A bigger parcel of land, spanning 180,000 square feet, initially was earmarked for Walmart, he explains. However, Walmart became a political problem for Related [which owns the complex], says Hanlon, so we started talking about other possibilities for the space, and I suggested ShopRite.

Hanlon deferred to Related president Glenn Goldstein on what will happen with the remaining 90,000 square feet of retail space thats up for grabs. Goldstein did not return a call seeking comment.

The store is much bigger than ShopRites 68,000-square-foot prototype; it will be the companys largest supermarket in the tri-state area. The company will maximize its presence at the retail complex with several offerings beyond the typical fare for a grocery store. These include a full-service floral department, a pharmacy and a broad selection of ethnic foods. Natural and organic products will be available in every department and the store will offer a wide array of prepared foods, a selection of Japanese and Chinese specialties for dining in or taking out, a fresh-made sushi bar and a full-service catering team.

ShopRite is due to open in the fall of 2014 as part of Phase II of Gateway. Phase I, which has been open for a decade, provides several stores, including BJs Wholesale, Home Depot, Bed, Bath & Beyond, Target, Best Buy, Old Navy, Olive Garden, Red Lobster, Boulder Creek Steakhouse.

It was not clear at press time what is being planned as part of phase two, or whether that has even been determined.

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GLOBEST.COM B2B FEATURED SERVICE PROVIDERS Add your company

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