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Brooklyn/Staten Island
Described as "The Rebirth of Cool" by TimeOut New York Magazine, Brooklyn offers a golden opportunity to retailers. If the borough were a city, it would be the nation’s fourth largest, with a massively underserved consumer market of 2.5 million people. For the same $31 billion in disposable income, Brooklyn makes only half of Nassau County’s $14 billion in retail sales – offering a $7 billion opportunity for retailers. Brooklyn’s world-class educational and training resources, vibrant cultural arts scene, charming brownstone neighborhoods and 18 business improvement districts offer abundant potential for retailers. A half mile away, a surge of development has occurred in Staten Island, as retailers tap into the city’s fastest growing borough, with the highest percentage of homeowners in New York City. CB Richard Ellis professionals are on the ground covering these bustling metropolitan centers, assisting retailers and owners in maximizing their returns in these markets.
Queens
More than 150 languages are spoken among the two million residents in of Queens, New York. This New York City borough is experiencing significant growth, with thousands of new residential units; a modern Mets baseball stadium and redevelopment of the adjacent Willets Point; film studio expansion; and a variety of new retail space, from lifestyle centers to downtown boutiques. The CB Richard Ellis Tri-State Retail Services Group is intimately familiar with this collection of diverse communities, which abound in possibility for retailers.
Bronx
When former President Clinton visited the South Bronx in 1997, he proclaimed it a "miracle" of urban revitalization and renewal. Public and private efforts have led to a renaissance in housing development, a new Yankee stadium, waterfront parks and esplanades along the Harlem River, and redevelopment of the Terminal Market, bringing a one-million-square-foot retail center to the South Bronx. Streetscape, traffic and infrastructure improvements have helped to make this borough a compelling opportunity for both retailers and owners. CB Richard Ellis’s specialists provide targeted insight and advice to shape and execute clients’ strategies in this burgeoning market.
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