ATLANTIC YARDS — A real estate investment firm has acquired an empty industrial building near the new Barclays Center arena and Atlantic Yards development site near Downtown Brooklyn.
First reported last week in The Wall Street Journal, Waterbridge Capital bought the 40,000-square-foot building at 700 Atlantic Ave. for approximately $7 million.
Waterbridge is planning to transform the industrial facility into a retail center, according to the report. It was previously occupied by a manufacturer.
The site is situated within what Forest City Ratner identifies as the second phase of its Atlantic Yards development.