Four More Retail Tenants to Open at Flushing Commons
– Fashion brand Atelier leads leasing activity at New York City-mixed-use project
NEW YORK, June 12, 2018 – Leading global commercial real estate services firm Colliers International announces continued leasing momentum at Flushing Commons, the new mixed-use office, residential and retail development in Flushing, Queens. Four new tenants led by fashion brand Atelier have signed leases for nearly 7,500 square feet of prime retail space in the large-scale mixed use development. The flurry of retail activity follows the March announcement of a 12,000-square-foot lease with the popular restaurant Hai Di Lao. Asking rents for the remaining available retail space, which totals approximately 10,000 square feet, ranges between $150-to-$200 per square foot.
In addition to Atelier, which leased 2,236 square feet in the largest of the four new deals, new tenants include Metro City Bank (2,022 square feet), Hanover Community Bank (1,444 square feet) and Elements Pharmacy (1,756 square feet).
Colliers International represents Flushing Commons, a development of F&T Group, Rockefeller Group and AECOM Capital. According to Colliers’ Jonathan Plotkin, Executive Managing Director, “There is great excitement about this development, and to have this tenant-mix join the roster after the lease for Hai Di Lao, one of China’s best known and most popular restaurants, is a real positive for the project, the neighborhood and the City.”
According to members of the partnership co-developing the project, there has been continued strong demand for the first retail opportunities at Flushing Commons, which are being marketed and curated deliberately to ensure a tenancy and retail mix that will benefit the first residents and tenants of Flushing Commons, as well as the greater Flushing community.
Phase one of Flushing Commons includes a 17-story building with 14 residential floors located at 138-35 39th Ave., as well as a 13-story office condominium building, located at 38-08 Union St., incorporating approximately 30,000 square feet of retail space. The office and residential condominiums opened in 2017 and are approximately 97% sold-out. Phase two of the project will add three additional buildings with office, residential and retail space, as well as public amenity space and open outdoor space.
Kenny Yip, Associate Director at Colliers International, represented the ownership with Jonathan Plotkin.
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About Flushing Commons
Flushing Commons is a major mixed-use development expected to be completed in two phases. The 1.8-million-square-foot, transit-oriented, mixed-use development is set to include residential, office, retail, parking and community space. It will feature five buildings surrounded by a 1.5-acre, open-air public plaza, Downtown Flushing’s first public outdoor space.
Centrally located steps from the MTA subway, major bus stops and the Long Island Railroad, and within close proximity to LaGuardia and John F. Kennedy airports, Flushing Commons will be a pedestrian-friendly neighborhood-within-a-neighborhood where residents have access to the best of Flushing as well as easy access to other parts of Queens, Long Island, Manhattan and beyond.
For more information about the retail at Flushing Commons, visit: https://www2.colliers.com/en/properties/flushing-commons/USA-flushing-commons-new-york-ny/USA1017419
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers has also been ranked the number one property manager in the world by Commercial Property Executive for two years in a row.