RIPCO Real Estate (RIPCO) and Related Companies announced today that Food Bazaar Supermarket signed an 80,000-square-foot lease at Bronx Terminal Market. Developed by Related Companies in 2009, Bronx Terminal Market is home to a variety of restaurant and retail tenants, and Food Bazaar—which will be the largest supermarket in the borough when complete—will add a full-service supermarket to the complex when open in fall of 2019. Boasting one million square feet of retail space, Bronx Terminal Market offers visitors and residents a convenient and thriving shopping destination. The complex is located at 601 Exterior Street, off Exit 4/5 of the Major Deegan Expressway and just south of Yankee Stadium.
Food Bazaar will join a tenant roster that includes Marshalls, Target, Home Depot, Bed Bath & Beyond, Michaels, Best Buy, Burlington and Chuck E. Cheese, among other national retailers. The family-owned and operated supermarket is prominent in the Tri-State region, and is home to 16 locations across Brooklyn, Queens and the Bronx, not to mention 9 other locations in New Jersey, Connecticut, Long Island and Westchester.
“There were a variety of reasons to locate at Bronx Terminal Market, including the fact that the complex is located in a densely populated trade area, features excellent parking and mass transportation options and presented us with the unique opportunity to have the largest supermarket in the Bronx,” said Spencer An, president at Food Bazaar.
“In today's day and age of retail, having your project service day-to-day needs of the local community will bring traffic to your development and that is exactly what Food Bazaar will do for Bronx Terminal Market,” said Avi Kollenscher, senior vice president at Related Companies.
“Bronx Terminal Market has a diverse and powerful group of retailers, so with this space, we wanted to target someone who would be additive to the existing mix,” said Brian Schuster, real estate broker at RIPCO Real Estate, who, along with Peter Ripka, represented Related in the transaction. "We knew a well-known and respected brand like Food Bazaar would align well with our current tenants and get the community excited." For more information on RIPCO, please visit www.RipcoNY.com.
About Bronx Terminal Market:
Bronx Terminal is committed to the well-being of the local community, providing resources and programming to the greater Bronx area and proudly serving as the one-stop shopping destination to all of your must-have stores, including Target, BJ’s Wholesale Club, Best Buy, Burlington, Bed Bath & Beyond, Marshalls, Michaels and more! Bronx Terminal Market is located at 610 Exterior Street, Bronx NY 10451 and is accessible by public transportation on the Bx13 bus service, the 4, 5, 1, and 3 trains from 149th Street and Grand Concourse, B and D trains at 161st Street or Exit 4 and 5 off the Major Deegan Expressway. Follow Bronx Terminal Market on Facebook @BronxTerminalMarket, Instagram @BronxTerminalMarket and Twitter @ShopBTM and visit BronxTerminalMarket.com for the most recent updates and events.
Related Companies is the most prominent privately-owned real estate firm in the United States. Formed over 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of over 3,500 professionals. With over $50 billion in assets owned or under development including the 28-acre Hudson Yards neighborhood development on Manhattan’s West Side, Related was recently named to Fast Company Magazine’s list of the 50 Most Innovative Companies in the World. For more information about Related, please visit www.Related.com.
About RIPCO Real Estate:
RIPCO Real Estate, founded in 1991, is the premier retail brokerage firm in the New York metropolitan area. The firm has leased millions of square feet of retail space on behalf of major landlords and developers, as well as nationally and internationally renowned retailers. RIPCO prides itself on local market expertise with a national reach and employs approximately 60 brokers across 4 offices in Manhattan, Brooklyn, New Jersey, and Long Island. For more information on RIPCO Real Estate, please visit www.RipcoNY.com.
About Bogopa Service Corp. (D.B.A. Food Bazaar Supermarket):
A family-founded, privately owned and operated company that has grown to over 25 full-service supermarkets in the Tri-State metropolitan area (NY, NJ, CT) under the name “Food Bazaar.” Bogopa, which means “Yearning for You” in Korean, opened its first company store in 1988, seeing the need for access to a variety of authentic foods and flavors that mainstream supermarkets did not supply. Taking pride in going to great lengths to provide each of the communities it serves with the foods they love and recall from their “homeland,” the company serves as a one-stop shopping experience, including staple grocery items and producing the Bogopa Private Label, their own line of high-quality products at affordable prices. Passionate about supporting its local community, Food Bazaar regularly partners with numerous not-for-profit organizations by providing substantial food donations and hosting many community events year-round. For more information on Food Bazaar, please visit www.FoodBazaar.com.
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