News: Shopping Centers

Pardo of Two Trees and Igrutinovic of City Connections secure 11,640 s/f lease

According to Two Trees Management Co., retailer Brooklyn Industries Inc., an artist-owned and operated fashion company, will occupy 11,640 s/f for its headquarters at Two Trees office space at 20 Jay St. "Brooklyn Industries coming to DUMBO is truly exciting," said Caroline Pardo, director of leasing for Two Trees. "We're confident that this innovative company will feel at home in our richly artistic neighborhood." Boasting a modern lobby, attended parking, common conference rooms, and a touch-screen lobby directory, 20 Jay St. also offers tenants multiple high-speed broadband providers. 20 Jay St. is situated in a neighborhood teeming with fine art galleries, restaurants, unique shops and inviting outdoor space, all inspirational to the various companies, such as Brooklyn Industries, that have chosen to set up shop in DUMBO. After opening its flagship location on Brooklyn's Bedford Ave. in 2001, Brooklyn Industries now operates 14 stores in New York, Chicago, Philadelphia, Boston and Portland. The popular shops specialize in indie-style bags, t-shirts and lifestyle clothing. The company plans to move to DUMBO by mid-July and has signed a 10-year lease. Caroline Pardo represented the landlord, Two Trees; Laki Igrutinovic of City Connections represented Brooklyn Industries. Two Trees Management Co. owns most of the Brooklyn neighborhood of DUMBO ("Down Under the Manhattan Bridge Overpass") as well as significant properties in the Downtown Brooklyn, Brooklyn Heights, Cobble Hill, Boerum Hill area. The company's holdings include 13 buildings and the second largest portfolio of commercial space on the Brooklyn waterfront, which spans 3 million square feet.
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2024 Year in Review: William O’Brien, M.C. O’Brien, Inc.

What noteworthy transactions or deals from this year best exemplified key market trends or shifts? I would like to say there was an outstanding transaction for me this past year but 2024 was more a culmination of long-term relationships, most of which continued to transact. Deals were smaller in many cases but we saw robust leasing both on the agency side as well as on the tenant side.

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