Condren, Triglia and Danut of CPEX broker 3,037 s/f ground floor retail lease; Zelnick & Co. reps tenant, Bar Method; Landlord is Quinlan Development and Lonicera Partners

The CPEX New York retail leasing team has completed a lease agreement at 257 Pacific St. Located off the Smith St. retail corridor in Boerum Hill, the new development is a six-story building with 3,037 s/f of ground floor retail space for the incoming tenant. The tenant, Bar Method, is a regional fitness studio expanding to the market. This will be its first location in the borough. CPEX's retail leasing team, consisting of managing director Ryan Condren and associates Kristina Triglia and George Danut, represented the landlord, Quinlan Development and Lonicera Partners, in negotiating the lease. Zelnick & Company represented Bar Method. "The lease at 257 Pacific St. shows two trends taking place in the Brooklyn retail market," said Condren. "To start, it marks the beginning of side street retail locations commanding premium rents from well-established operators like Bar Method. It also represents another instance of a tenant expanding from Manhattan and deciding to open its first Brooklyn location in the BoCoCa area. We expect both trends to continue as retailers look for alternative locations." CPEX was founded in September 2008 by Timothy King and Brian Leary, two leaders in the N.Y.C. commercial real estate industry. The founders have provided a broad range of real estate and business services locally, nationally and internationally throughout their career. CPEX provides a range of services for both real estate and business owners through their operating platform and entrepreneurial culture. Their services include sales, leasing, acquisitions, and advisory.