Shopping Center Business

DEC 2017

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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NEW YORK CITY 52 • SHOPPING CENTER BUSINESS • December 2017 West, a 7 million-square-foot, mixed-use property that will be home to office space, curated food, retail, pop-up experiences, green space, multifamily and a boutique hotel. The project is set for delivery in March 2020. "Manhattan West is located in Mid- town West in the Hudson Yards district," says Goldban. "Our development is a 7 million-square-foot, mixed-use project with 2 million square feet of retail. A 60,000-square-foot Whole Foods Market is the anchor. We've also signed NHL to a retail lease, which is very exciting. We're really focusing on how we can make this project relevant for the next generation." "Manhattan West is going to be very for- ward-thinking about the types of retailers that we incorporate," continues Goldban. "We're also focused on incorporating the newest technology." Nearby, the Hudson Yards project by Related Companies and Oxford Prop- erties is transforming the neighborhood with the largest private real estate devel- opment in New York City since Rocke- feller Center. Upon completion, the development will include more than 18 million square feet of commercial and residential space, state-of-the-art office towers, more than 100 shops, including New York's first Neiman Marcus, and a collection of restaurants curated by Chef Thomas Keller. In total, Hudson Yards aims to house 4,000 residences, alongside a center for artistic invention, 14 acres of public open space, a 750-seat public school and an Equinox-branded luxury hotel with more than 200 rooms. "The highly anticipated mega projects of Hudson Yards and Manhattan West are transforming the West Side of Manhattan and are literally creating a city within a city — a place to live, work, shop and eat," says Faith Hope Consolo, chairman of the re- tail leasing, marketing and sales division at Douglas Elliman Real Estate. "Both have leasing success in attracting big tenants — Hudson Yards having Neiman Marcus as an anchor tenant for its shops and Man- hattan West to have the NHL, Whole Foods and Amazon, among other well- known names. Hudson Yards will also feature a Spanish-influenced food hall." In Brooklyn, Industry City — developed by a partnership between Jamestown, Bel- vedere Capital and Angelo Gordon — is delivering 6.5 million square feet of indus- trial, office and retail space. "The redevel- opment of Industry City — which was a warehouse complex on the waterfront in Sunset Park — continues to show that Brooklyn is the best borough after Man- hattan," says Consolo. She notes that it is home to 450 companies, including the Brooklyn Nets and ABC Carpet and that Condé Nast has a test kitchen and video studio there. The Industry City property offers a 40,000-square-foot food hall, 10,000 square feet of communal space for ten- ants with a coffee bar and billiards, an innovation lab, creative workshops and retail. The latest announcement for the property is the opening of a Japanese version of Eataly called Japan Village. The 20,000-square-foot space will sell baked goods, matcha drinks, sweet rice cakes, noodles and sushi.

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