News: Brokerage

JLL leases 37,000 s/f to FoodBazaar Supermarket at 375 West 207th St.

Manhattan, NY JLL completed a new retail lease with Food Bazaar Supermarket (Bogopa Service Corp.) to open a 37,000 s/f full-service grocery store located at 375 West 207th St. in the Sherman Creek neighborhood of Inwood.

The new Food Bazaar will be located at the base of Sherman Creek North Cove, a 611-unit residential project being developed by MADDD Equities and Joy Construction. All of the residential units in the building will be affordable with rents set to create a mixed income workforce housing community. 

Family-founded in 1988 and privately owned and operated, Food Bazaar has grown to over 30 full-service stores in the tri-state area thanks to its focus on connecting to its immediate communities with international food offerings and fresh and healthy perishables. Estimated to open in spring 2025, the new Sherman Creek store will feature a custom-cutting meat department, full-service seafood department, deli counter and a bakery. It will also house a coffee bean and roastery department and a full-service cheese section.

Edward Suh, executive vice president of Bogopa, said, “We are extremely excited to introduce our Food Bazaar brand to this community, which is where the founders of Food Bazaar lived for many years. As a company, we are passionate about supporting our local communities and we look forward to celebrating the neighborhood’s rich culture and heritage with a range of fresh food options catering to local demand.” 

“As Sherman Creek evolves from a primarily commercial district to a dynamic community of new residential and mixed-use properties, open park space and waterfront access, Food Bazaar will fill the void for a fullservice neighborhood supermarket providing fresh food options,” said Eli Weiss, principal of Joy Construction. “We are thrilled to welcome them to Sherman Creek North Cove, which will bring much-needed high quality workforce housing, tenant amenities and community recreation space to the area.” 

JLL managing director Hilary Sievers represented MADDD Equities in the transaction. JLL executive managing director Erin Grace represented Food Bazaar.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced