Condren, Danut and Triglia of CPEX complete 5,200 s/f lease for City MD

The CPEX New York retail leasing team arranged a lease agreement with City MD at 228 Court St. Located at the corner of Court St. and Baltic St., the three-story mixed-use building is a landmarked property in the Cobble Hill Historic District. Previously a funeral home, the commercial space will be repositioned for use as a modern medical facility. The incoming tenant, City MD, will occupy 2,800 s/f of ground floor space and 1,400 s/f on the second floor, with 40 ft. of frontage on Court St. City MD will have an additional 1,000 s/f of basement storage space. CPEX's retail leasing team, consisting of managing director Ryan Condren and associate George Danut, represented the landlord in negotiating the lease transaction. Associate Kristina Triglia, also of CPEX, represented the tenant. The lease at 228 Court Street, which will be City MD's sixth Brooklyn facility, represents an ongoing trend of urgent care centers taking prime corner retail locations previously reserved for institutional banks. 26 Court Street, 240 Atlantic Avenue, and 347 Flatbush Avenue are other examples of medical facilities that have opened along established, highly trafficked corridors. "This highlights our fourth urgent care lease in the past two years in which the tenant took an extremely prime corner that likely would have been a location for Bank of America, Chase Bank, or Citibank in the previous cycle," said Condren. "Though obviously different industries, the two uses are similar in that they both target highly visible locations in established areas with great transportation."