Cushman & Wakefield Retained Exclusively to Sell Triple-Net Leased Retail Building at 2845 Coney Island Avenue
NEW YORK, October 27, 2016 – Cushman & Wakefield has been retained on an exclusive basis to sell a triple-net leased retail opportunity at 2845 Coney Island Avenue, located at the southeast corner of Coney Island Avenue and Avenue Z in Coney Island, Brooklyn. The asking price is $13,250,000.
The single-story building features 12-foot ceiling heights and consists of over 10,000 square feet on the ground floor with an approximately 10,000-square-foot lower level. The property possesses an impressive 100 feet of frontage on Avenue Z, 200 feet of frontage on Coney Island Avenue, and 30 legal parking spaces. The property is currently triple-net leased to Corner Z Supermarket until August 2021 who pays $710,947 per year with annual increases. The lease can be terminated by the landlord with 180 days’ notice.
“This is a rare opportunity to acquire a prime retail corner asset with tremendous long term potential,” said Cushman & Wakefield’s Alex Svetlakou who is exclusively marketing this property with James Nelson and Carly Weinreb.
The property is ideally located in close proximity to high density residential developments, including Muss Development and AvalonBay's proposed 30-story residential tower and The Vue, a new 58-unit condominium building. The building is also within walking distance to the B and Q train entrance.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.