BJ's Takes 170,000 SF in Brooklyn

BROOKLYN, NY-BJ’s Wholesale Club has signed a lease to anchor Canarsie Plaza, a mixed-use redevelopment planned by a joint venture of Acadia Realty Trust and PA Associates at 8925 Ave. D in Brooklyn. The wholesale club will take the 170,000-square-foot space formerly taken by Home Depot, which last year canceled its pre-leases there and at Pelham Manor–another upcoming Acadia/PA mixed-use in Westchester County. Terms of the BJ’s lease were not disclosed, and Acadia SVP Jon Grisham did not return GlobeSt.com’s calls by deadline.

“While many retailers may be struggling at this time, BJ’s is well-positioned to outperform its peers during this difficult phase of the economic cycle,” says PA principal Paul Slayton in a release. “Along with our site in Pelham Manor, we are pleased to add them to another of our urban/infill redevelopment projects. The addition of BJ’s to Canarsie Plaza will add significant value to the center. We anticipate construction of the project to commence shortly.” Published reports say the 250,000-square-foot Canarsie Plaza will cost about $65 million to build.