BROOKLYN, NY — Co-developers of one of Brooklyn’s largest mixed-use developments City Point, Acadia Realty Trust (Acadia) and Washington Square Partners (Washington Square) announced that Trader Joe’s, a neighborhood grocery store known for their extensive array of domestic and imported foods, has selected City Point as its first Downtown Brooklyn outpost and signed a lease. Trader Joe’s will be the 1.9 million s/f development’s designated grocery anchor tenant.
“Trader Joe’s has stayed true to its roots by leveraging a sustainability-driven and honest approach to how people shop for high-quality food,” said Chris Conlon, executive vice president and chief operating officer of Acadia. “Like Trader Joe’s, City Point has remained steadfast in its commitment to providing local residents and visitors with a destination that meets their needs. We’re confident that the grocer will become a staple of Downtown Brooklyn and its surrounding neighborhoods, serving the community for years to come.”
Roy Roberts of Milestone Associates and David Rosenberg of Robert Futterman represented Trader Joe’s, while Peter Ripka and Jason Pennington of Ripco Real Estate Corp. brokered on behalf of City Point.
Located between Fulton and Flatbush Avenues, City Point will be comprised of over 700,000 square feet of commercial space in addition to almost 1,300 residential units upon completion in 2017. Servicing almost 37 million shoppers, students and working professionals on an annual basis, Downtown Brooklyn’s close proximity to Manhattan and designation as one of the country’s fastest growing cities continues to draw top-tier retailers such as Swarovski, Nordstrom Rack and Adidas to the area.