Eye On Real Estate: New Tenant at Brooklyn Municipal Building
By Lore Croghan
Brooklyn Daily Eagle
Candy-store chain It's Sugar is the newest tenant to rent space at the 53,000-square-foot commercial condominium Albert Laboz of United American Land is developing in the Brooklyn Municipal Building.
Makeup emporium Sephora, which took 7,000 square feet, recently opened in the prime Downtown Brooklyn site.
The candy company, which took 1,200 square feet on the Court Street side of the building, just signed its lease last week, It's Sugar real estate executive Larry DeBerry told the Brooklyn Daily Eagle.
He likes the location because of its high-density foot traffic and the “very strong tenants” the landlord is bringing in. Jeremy Ezra of brokerage Robert K. Futterman & Associates (RKF) found the location.
The shop – which DeBerry hopes to open in February, depending on how fast city Buildings Department permits can be obtained – will be the second Brooklyn location for the Deerfield Beach, Fla.-based retailer. The first, in Coney Island, is doing well though Coney's season is over, he said.
A chocolate factory and shop called Chocolate Works is opening at 110 Montague St., as the Eagle has reported. But DeBerry doesn't see it as competition since his chain offers little chocolate in its product lineup.
A third tenant at the Municipal Building commercial condo, YogaWorks, is taking 5,000 square feet. Letters of intent have been signed for all the remaining space, Laboz told the Eagle.
“We're getting there,” said Laboz – who added that the tenants who signed the letters include a restaurant/bar “that will bring life to the corner.”