Diamond and Cantor of Lee BQLI arrange 15,000 s/f, 25-year master lease
Bradley Diamond, Lee & Associates BQ|LI, LLCQueens, NY Managing director Bradley Diamond and director Mandy Cantor of Lee & Associates BQLI (Lee BQLI) have arranged a 25-year master lease at 16101 Jamaica Ave., located on the corner of 161st St. The former Capital One bank building is 15,000 s/f at grade level with selling basement space. Neighboring businesses include GAP, Carters, Raymour & Flanigan, Chase Bank, Sprint, Jamaica Multiplex, and Applebee’s.
“Jamaica Ave. is in the midst of a retail renaissance, and our client is pleased to be a part of it,” said Diamond. “From here, the space will be leased to two or three national retailers, that complement the trend away from Mom & Pop retailers, bringing Jamaica Avenue back to its glory days when Macy’s, Gertz, Mays, Wertheimer’s, etc. dotted the landscape.”
“This is an exciting opportunity in a highly-desirable location,”said Cantor. “Not only is it easily accessible via subway and Long Island Rail Road, but next year, directly across the street from this property, Burlington Coat Factory will be opening, thus adding to the area’s already busy foot traffic.
Diamond and Cantor represented both the landlord, 161 Jamaica Associates LLC, Vision Enterprises, and the holder of the master lease, which is managed by Ralph Chera of Chera Realty Group.