The Commercial Observer reports that there is a huge property on 21st Street and 39th Avenue (39-19 21st Street – GMAP) that is ripe for development. It is 100,000 square feet total and the big building (at only 16,000 square feet) used to house a Staples. Massey Knakal, who is exclusively marketing the property, would like to secure a long-term net lease of $1.5 million.
Google Maps is behind the times but here is a screenshot to give you an idea of the area:
It’s a few blocks from the Queensbridge Houses in one direction and the Ravenswood Houses in the other direction. There are a number of industrial shops along 21st Street and environs, including auto repair shops, a taxi garage, and storage facilities. 21st Street is seen by many as a major street that has a lot of potential.
This property, though, is unusually large. In the words of Benjamin Fox, executive vice president of retail leasing with Massey Knakal, “It’s rare to come up with this large a footprint along a main drag.” Along with the large warehouse there are a number of other smaller buildings that will likely be razed – Fox says, “Those can be knocked down with a sneeze.”
As for who is being courted as potential tenants, they are considering businesses like supermarkets, fashion retailers, automobile dealerships, and storage companies, among others. The developer is open to splitting up the lot for the right mix of businesses since “current zoning allows for as-of-right retailing for multiple entities.”
Big Box Retail Opportunity Could Capitalize on Western Queens Growth [Commercial Observer]