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Market Gets Space in 80,000-SF Center

STATEN ISLAND, NY-Net Cost Market signs a 20-year lease for 15,000-sf at 3155 Amboy Rd. Asking rents at the Oakwood Shopping Center are $25 per sf.

By Natalie Dolce | Updated on November 08, 2007

STATEN ISLAND, NY-Net Cost Market leased a 15,000-sf lease at 3155 Amboy Rd. in the Oakwood Heights section of Staten Island, NY, a former Foodtown location within an existing 80,000-sf Oakwood Shopping Center. This will be their first Staten Island location.

The landlord, AVR Realty of Yonkers, was represented in-house by Norman Lesman. Gary Mayzlin of Brooklyn-based Kalmon Dolgin Affiliates arranged the long-term lease on behalf of the tenant, Net Cost Market, which currently operates four supermarkets in Brooklyn and another in Philadelphia.

A source close to the deal tells GlobeSt.com that asking rentals at 3155 Amboy Rd. is $25 per sf. The asking yearly value is approximately $300,000 per year and the lease is for 20 years, the source explains.

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