The Feil Organization has revealed a new 18,119 s/f lease with Blink Fitness, a division of Equinox, at the Concourse Plaza located just off of the Grand Concourse. The addition of the fitness center occurs during a major renovation and redevelopment of the 228,000 s/f shopping center. The remodel includes both a physical facelift and a revamping of the center and will create new space available for retail, restaurant and entertainment tenants.
The future Blink Fitness will be located on three levels at 820 Concourse Plaza, an 60,000 s/f five-story office building that was recently constructed on the property, and will feature 18,119 s/f of exercise space and equipment.
Randall Briskin, vice president of leasing at Feil Org. worked on the deal and represented the owner. Both Bill Miller, vice president of real estate for Blink Fitness, and Peter Levine of Charter Realty represented the tenant.
Owned and managed by The Feil Organization, Concourse Plaza is a local shopping destination situated on 161st St. at the Grand Concourse. The Shopping Center currently features retail and dining amenities, a 10-plex movie theatre, one of the largest grocery stores in the borough, and 1,200 parking spaces for its customers. Due to its proximity to the new Yankee Stadium and the recently renovated two million square foot Bronx County Courthouse, the center is located for access to public transportation. In addition to the benefits of these transportation hubs, the center also sits in one of the most densely populated residential neighborhoods in the area. Recent rezoning of the area has increased the Floor Area Ratio (FAR) at the Plaza, opening an opportunity for tenants that might not have been able to lease space previously. The new FAR would allow for 600,000 ft. of new retail and office space to be added to the center over time.
"The intent of this renovation at Concourse Plaza is focused on the rejuvenation of the 'Yankee Stadium Corridor' at 161st St.," said Randall Briskin, director of commercial leasing at The Feil Organization. "Due to the proximity to Yankee Stadium and the large residential community, this well-visited, highly visible neighborhood is seeing an upsurge in retail, office, and restaurant venues. The Feil Organization recognizes the need for these improvements at Concourse Plaza and we are excited to bring them to the area."
The Feil Organization is a private, established commercial real estate firm headquartered at 7 Penn Plaza in Manhattan. A force in real estate for over 50 years, the company owns and operates a nationwide portfolio of over 26 million s/f of retail and commercial space, and over 5,000 residential rental units. Feil's property portfolio also includes Nassau Mall in Levittown, 853 Broadway and 551 Fifth Ave. (The Fred F. French Building) in Manhattan. The organization maintains regional offices in Chicago, Ill.; New Orleans, La; St. Petersburg, Fla.; and in Levittown, N.Y. Tags: