Curbcut Urban Partners’ Joint Venture Throggs Neck Shopping Center Opens in the Bronx
- Dec 23, 2014
By Veronica Grecu, Associate Editor
A new shopping venue recently celebrated its grand opening in the Ferry point section of the Bronx, just in time for the holiday season.
Developed by Curbcut Urban Partners in partnership with Simone Development and real estate developer Paul Slayton of Slayton Investments, the 285,000-square-foot Throggs Neck Shopping Center was built on the site of a former U.S. mail sorting facility that was shut down in September 2010.
As previously reported by The Real Deal, the eight-acre vacant property was acquired for $35.2 million (or approximately $117 per buildable square foot) in early 2011 by a joint venture between Target and the development team. Under the purchase agreement, Target owns a 165,000-square-foot department store at the center and is Throggs Neck’s anchor. The rest of the space was leased by Ripco Real Estate—which serves as the mall’s exclusive leasing agent—to various retailers and restaurants such as TJ Maxx, Famous Footwear, Sleepy’s, Petco, Skechers, Metro Optics, BX Sports and Super Wines and Liquors, T-Mobile, Starbucks, Applebee’s, Subway and Sarku Japan.
In fact, leasing operations at the Throggs Neck Shopping Center began in late 2012 when the mega-mall was still under construction, Commercial Property Executive reported. According to Ripco Real Estate property data, the shopping center has just 8,000 square feet of space currently available for lease.
“At Curbcut, we think great neighborhoods require great shopping experiences, and the Throggs Neck Shopping Center is the latest example of our development approach,” said Carolyn Malinsky, vice president of Curbcut Urban Partners. “We understand the needs of both retailers and shoppers, and are committed to achieving their objectives by taking a hands-on approach that ensures our projects are well-received in the communities they serve, and produced on schedule and on budget.”
The Throggs Neck Shopping Center is located at 815 Hutchinson River Parkway at the Southwest Corner of Lafayette Avenue. Designed by SBLM Architects, the two-story mall is expected to fill a retail void in the east Bronx. The center also offers free parking for over 600 vehicles directly in front of the stores.
Rendering courtesy of Curbcut Urban Partners