Bay News excerpts -
The way is paved for chain stores.
Landlords along a boarded-up section of Sheepshead Bay Road are
intentionally keeping storefronts empty while they wait for big-name
retailers to come knocking, a real estate watcher said. The area is in
the midst of a massive residential development boom that includes a 28-story condo on nearby Voorhies Avenue, and it’s only a matter of time before nationally known coffee houses and faux-Mexican joints move in, an expert said.
“The supply of residential pushes the demand for commercial — banks,
pharmacies, food chains, Starbucks, Chipotle,” said Aliaksandr Svetlakou
of Cushman and Wakefield. “Some of the people they are waiting to
secure that kind of thing … something with a lease guaranteed by a
corporation with a minimum 10 years. That area is very hot right now —
they want to play the cards right.”
Dozens of multi-family apartments are under construction in the neighborhood, including four projects six stories or higher within a five-minute walk of the half-shuttered main street, an investigation by this paper showed earlier this year.