Acadia and partners welcome A|X Armani Exchange-6,500 s/f

According to Acadia Realty Trust in conjunction with its partners Washington Square Partners, Aaron Malinsky and Paul Slayton, retailer A|X Armani Exchange will open soon as the first tenant at the City Point project downtown. The A|X Armani Exchange store will occupy a 6,500 s/f corner space at Fulton St. and Albee Sq. "We welcome A|X Armani Exchange to the growing tenant roster at City Point and are delighted to welcome an international iconic fashion brand to Downtown Brooklyn," said Kenneth Bernstein, president and CEO of Acadia Realty Trust. "A|X Armani Exchange is a youthful and fashionable label with broad appeal that will make City Point an attractive shopping addition to the area." Harlan Bratcher, president of Armani Exchange said, "It is very exciting to be part of the resurgence of Downtown Brooklyn and the quickly expanding retail scene on Fulton Street. Brooklyn is an energetic and vibrant place with fashion-minded young people, perfect for the Armani Exchange brand and lifestyle. City Point is an ideal market for Armani Exchange and we are pleased to have found a location that meets our retail standards." "City Point will be transformative to the neighborhood. We are proud to have been partners in this important project from the outset," said Paul Travis of Washington Sq. "When completed, City Point will increase the critical mass of new residential, commercial and much needed retail development that will complement the growing communities in Downtown Brooklyn." Borough president Marty Markowitz said "The opening of Armani Exchange at City Point brings together one of the world's most recognizable names in fashion with another of the most well known brands on the planet: Brooklyn, USA. Downtown Brooklyn couldn't be more thrilled in welcoming Armani Exchange and its fashion offerings to City Point, where local and national retail, office space, and affordable and market rate housing are joining forces with the shopper-friendly improvements to the Fulton Mall streetscape in attracting exciting new and future retail opportunities as well as hundreds of jobs along the corridor. Armani Exchange adds yet another option to the ongoing retail diversification of Downtown Brooklyn, which means that if you live in the borough—or are just visiting—there's no reason to shop anywhere else Downtown Brooklyn Partnership president Tucker Reed said, "City Point is the perfect project to reflect the diversity of Downtown Brooklyn today and is a centerpiece in the area's resurgence. It includes first-class retail that enhances the district's position as one of the city's premier shopping destinations and will offer both affordable and market rate residential opportunities. The arrival of Armani Exchange is further affirmation that Downtown Brooklyn has arrived as one of the most attractive downtowns in the country." The first phase of City Point, known as One DeKalb Ave., was designed by Cook+Fox Architects. It recently received an award for excellence in design from the New York City Public Design Commission. In May, the group revealed Century 21 Department Store would anchor the 1.3 million s/f mixed use development in the center of downtown, one the city's business retail and office districts. The store is scheduled to open in 2015. Acadia Realty Trust, a fully-integrated equity real estate investment trust, is focused on the ownership, management and redevelopment of high-quality retail properties and urban/ infill mixed-use properties with a strong retail component located primarily in high-barrier-to-entry, densely-populated metropolitan areas along the East Coast and in the Midwestern United States. Acadia owns, or has an ownership interest in, 95 properties through its core portfolio and three opportunistic/ value-add investment funds. A|X Armani Exchange was launched in 1991, aimed at a new generation of fast-fashion consumers through an accessible collection offering urban, individual style. A|X Armani Exchange has an exclusive direct controlled retail network that currently comprises 255 freestanding stores in 31 countries. Washington Square Partner has extensive experience in developing large mixed-use projects in New York City. Aaron Malinsky and Paul Slayton together represent development capabilities across a broad spectrum of property types. Aaron Malinsky and Paul Slayton have developed several urban mixed-use projects in New York City with Acadia Realty Trust and continue to be active in the retail development sector in the New York area.