King, Condren, Triglia and Danut of CPEX arrange 100,000 s/f lease; To Bed Bath & Beyond and subsidiaries in Brooklyn

The CPEX New York retail leasing team has completed one of the borough's largest retail lease agreements in 2014 with Bed Bath & Beyond Inc. at the Liberty View Industrial Plaza. Bed Bath & Beyond, together with three of its other concepts, buybuy BABY, Cost Plus World Market, and Harmon Face Values, will occupy 100,000 s/f on the second floor. Located along the Sunset Park waterfront, Liberty View Industrial Plaza, also known as 850 3rd Ave., is now a modern eight-story retail, industrial and technology complex with one of the largest floor plates in the borough at 140,000 s/f. Altogether, Liberty View offers a total of 1.2 million s/f. Formerly Federal Building #2, the building was constructed in the 1920s and has undergone a $100 million renovation. "This transformative building provides us with an opportunity to create a unique shopping venue that allows us to showcase our company's evolving customer interaction capabilities and merchandise offerings," said Barry Feld, CEO, Cost Plus World Market and senior executive overseeing the project. CPEX's retail leasing team, consisting of managing partner Timothy King, managing director Ryan Condren and associate directors Kristina Triglia and George Danut, represented the landlord, Salmar Properties, in negotiating the lease transaction. Lon Rubackin of CBRE represented Bed Bath & Beyond. "This transaction serves as a testament to the power of perseverance," said King. "It took more than two years to find a tenant that shared the landlord's vision. Ultimately, the landlord was able to secure a quality tenant and Bed Bath & Beyond was able to capitalize on a once in a lifetime opportunity to be part of the burgeoning Brooklyn retail market in Sunset Park." George Danut, CPEX