Brooklyn, NY Verada Retail executed a new lease for 2,500 s/f at 409 Eastern Pkwy. in Crown Heights to JAG-ONE. The tenant is now located on the ground floor of a 400-unit mixed-use apartment building owned by FBE Limited. Nathaniel Mallon and Brendan Thrappe, managing partners at Verada Retail, represented the property owner in the transaction with an asking price of $75 per s/f.
JAG-ONE Physical Therapy offers comprehensive outpatient physical and occupational therapy services across one hundred locations in New Jersey, New York, and Pennsylvania.
William Grover, tenant representative from Newmark, said, “JAG-ONE Physical Therapy has a long-standing presence in Prospect Heights and views the area as primed for continued growth. The location at 409 Eastern Parkway presented an opportunity to increase building quality, visibility, and co-tenancy while maintaining its well-established brand in the market. As part of JAG-ONE’s expansion strategy, we have recently completed transactions at 16 Court St., Canarsie Plaza, and South Shore Commons in Staten Island, with plans for additional locations throughout the boroughs.”
Mallon said, “This is a tremendous fit for the neighborhood and the property. It is our privilege to welcome JAG-ONE to 409 Eastern Parkway on behalf of ownership and our community, and we wish the company and its clients good health and success.”
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