Igloo secures tenth and final retail lease at Jasper
Long Island City, NY Igloo secured 100% retail leased status at The Domain Companies, LMXD, The Vorea Group, and Bridge Investment Group’s Jasper, a mixed-use development. By finalizing this 1,300 s/f lease with Stretchlab, a stretching services provider, Igloo has executed 10 retail leases at Jasper, comprising 35,000 s/f of the building’s ground-floor.
Stretchlab was represented by Peter Yoon of Ripco as their broker.
Stretchlab will join Peanut and Honey, KidStrong, Frankie’s Brooklyn Pizza, Tiger J Taekwondo, Matsuzuki Sakura, Dumbo Market, Bright Start, Club Pilates, and Glowbar on Jasper’s ground floor.
The 10 retail leases, which include a range of businesses from a grocery to restaurants and health & wellness concepts, demonstrate Igloo’s commitment to the nexus of business and community, creating cultural impact and holistic retail environment through the careful curation of brands and the activation of physical spaces.
“The lease-up at Jasper is a great example of the value-proposition of the Igloo platform,” said Adam Joly, principal at Igloo. “The project will benefit from a wide range of retail activations which will enhance the resident experience and deliver impactful business offerings to the LIC area.”
In addition to Jasper, Igloo has a dedicated focus within this LIC submarket in an area it refers to as the “LIC triangle” – south of the 59th St. Bridge, west of the Sunnyside Railyards and bound by the Newtown Creek to the south and East River to the west. Notable Igloo activations in this area include:
• The 12th St. Campus: Ninth Street Espresso, Focal Point Brewery, Slam Magazine, The Wirecutter, Artstrong, Matthew Barney, Kevin Beasley, Otis & Finn, Pinch Recording Studios, Sit Still, Tutu Dance School, Movers Bodega, Lupo Rosso Pizzeria, Mystiik Masalla, Orbital Kitchens, and Surrender Pictures.
• Hunters Point: Somerset House, Vibe Fitness, iFLY Indoor Skydiving, Gantry View School, Emack & Bolio’s, Earth Angel Crystal, and Gantry Oral & Maxillofacial Surgery.
• Court Square: Sonder, Compass, GNC, Charter Spectrum, Skybar, Han Dynasty, Ai Mart, Kinetik, and Inkblot.
The final retail lease at Jasper with Stretchlab, a provider of one-on-one assisted stretching services, with over 500 locations nationwide and internationally. The Stretchlab location at Jasper will be operated by Lou and Ash Majid – who operate StretchLabs in Bayside, Queens and Wall Street, Manhattan.
In addition to the ground floor retail space, Jasper will have 499 apartment rentals ranging from studios to three bedrooms, 150 of which will be set aside for those with a 130% area median income. A development designed to offer residents a holistic living experience, Jasper residents will enjoy access to multiple outdoor terraces, a pool, state-of-the-art fitness equipment and classes, a yoga studio, bike storage, multiple landscaped courtyards, a game room, package lockers, personal storage, dedicated outdoor dining and BBQ areas, a residential lounge and demonstration kitchen, co-working space, green roofs, and 112 parking spaces.
Located in Long Island City along Fifth St. between 50th Ave. and 49th Ave., Jasper is a joint venture between The Domain Companies, LMXD, the VOREA Group, and Bridge Investment Group. S9 Architecture is the architect, and Alan Mainer Studios is the interior designer.
Igloo’s success stems from its position as a valuable strategic partner for both landlords and retailers, serving as an important connector between physical space and thoughtful retail activations. Working as a partner with landlords, Igloo specializes in curating dynamic retail offerings and pre-leasing those spaces prior to project completion, while offering expertise in location sourcing, design and construction management for its retail partners. Igloo also invests capital in the scaling concept and has assisted in the expansion or start-up efforts of more than 53 companies within LIC alone.
The Igloo platform has developed a prominent presence within NYC – including focuses in Brooklyn, Queens, Manhattan and the South Bronx – representing both landlords and retailers across these markets. “We are committed to building authentic, lasting connections between businesses and communities across NYC” said Joly “consistently delivering results that create long-term value for our clients.”