The New York Post | March 17, 2019
New Target to replace Toys ‘R’ Us in Brooklyn
Toy store-deprived parents in south Brooklyn are getting the business: a Target to replace both the former Toys ‘R’ Us and Babies ‘R’ Us spaces at the Caesar’s Bay Shopping Center.
Target will move into what is now a 90,000-square-foot, two-story space at the more than 300,000-square-foot outdoor center in Gravesend, joining Kohl’s, Best Buy and Modell’s. There are also food options such as Five Guys, and an Olive Garden will open March 25.
The owners and managers of Caesar’s are Gazit Horizons — the North American subsidiary of the Tel Aviv-based Gazit Globe — in partnership with Surrey Equities.
“It’s a very unique piece of property because you are talking about 14 acres,” said Jeff Mooallem, president and chief executive of Gazit Horizons.
“We made the bet even with Toys going bankrupt, and we were able to lease even faster than we expected,” he added. “Target will have a big store, and with free parking, it will be a suburban-feeling store.”
To make the second-floor selling space better, the owners cut a deal with the neighboring Kohl’s to take back around 12,000 square feet of its storage area.
Peter Ripka and Jeff Howard of Ripco Real Estate represented both sides of the long-term deal. “It’s a fantastic location in Brooklyn on the water and next to the Belt Parkway and is one of the best shopping centers in New York City,” said Ripka.
In the future, the owners expect to add another 6,000 square feet for smaller stores. No asking rents were available but they are considered “affordable” for the tenants.
In June 2018, Gazit Globe paid $48.8 million for a 41 percent stake in the ownership venture of the center, which included a 50 percent voting interest. The seller was an entity of Toys ‘R’ Us, which was restructuring as part of its bankruptcy proceedings.
Real Estate Weekly | October 19, 2018
RIPCO hired to fill Toys R Us void in South Brooklyn shopping center
When Toys R Us went bankrupt earlier this year, it left a trail of large, vacant retail spaces in its wake, many of them in shopping centers full of otherwise successful tenants.
One such strip is South Brooklyn’s 300,000 s/f Ceasar’s Bay Shopping Center in Bensonhurst, which now has 77,000 s/f dual-level, big box retail to fill.
Gazit Horizons, Inc. — a subsidiary of the Israeli company Gazit Globe — and CBB Realty Associates, the two companies that own the center through a joint venture, have retained RIPCO Real Estate to lead the leasing effort at the former Toys R Us location.
“We invested in Ceasar’s Bay because it’s truly one of the most productive shopping centers in the U.S.,” Gazit Horizons CEO Jeff Mooallem said. “We expect strong demand for this Toys R Us and are looking forward to putting in a retailer that will cater to the day-to-day needs of the Brooklyn customer.”
Located on the neighborhood’s Bath Beach waterfront, Ceasar’s Bay featuring other Best Buy, Modell’s Sport Goods and Kohls as its remaining anchor tenants. It also has several smaller, food-based retailers such as Kohl’s, Starbucks and Five Guys. An Olive Garden is slated to open there next year.
Peter Ripka, co-founder of RIPCO, said he sees a lot of potential for the space because of its location near the Belt Parkway, free parking lot and the regional demographics. He also praised the “robust tenant roster.”
“The opportunity to market this type of space, located in one of the most-visible and highly-trafficked retail destinations in Brooklyn, affords us the ability to identify a tenant that will further position the complex as one of the premier shopping centers in New York City,” Ripka said. “We anticipate a lot of activity, because our selling points are simple: the center performs extremely well and retailers report high volumes of sales year in-and-out.”
Last week, RIPCO arranged an 80,000 s/f deal with Food Bazaar Supermarket to fill the vacant Toys R Us space 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 the spring of 2019.
The family owned and operated supermarket is prominent in the Tri-State region, and operates from 16 locations across Brooklyn, Queens and the Bronx, as well as nine others in New Jersey, Connecticut, Long Island, and Westchester.
“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. We knew a well-known and respected brand like Food Bazaar would align well with our current tenants and get the community excited,” said Brian Schuster
RIPCO Real Estate, who along with Peter Ripka represented Related in the transaction.
Press Release | January 16, 2018
Gazit Horizons Names Alison Lies Senior Vice President of Acquisitions
The U.S. subsidiary of Israel based Gazit-Globe expands Its acquisitions team and will establish an office in Boston
MIAMI, FLA. (January 16, 2018)– Gazit-Globe (NYSE; TSX; TASE: GZT), a leading global real estate company focused on the ownership, development and management of shopping centers and mixed-use properties in major urban markets, announced today that its wholly owned subsidiary, Gazit Horizons, Inc., has named Alison Lies as Senior Vice President, Acquisitions. As part of her new role, Ms. Lies will relocate to Boston, MA and establish an office for the company there.
Ms. Lies, who has been involved in over $3 billion USD in transaction and financing activity in her career, is a 16-year veteran of the commercial real estate industry and has been working with Gazit Horizons in a consulting capacity since May 2017. Prior to that she was Vice President of Acquisitions at Equity One, Inc. and has also held senior positions at New York City based Olshan Properties and other boutique development and investment firms. Originally from the Boston area, Ms. Lies received her undergraduate degree from Northwestern University. In addition to Boston, she has lived in Chicago and Columbus, Ohio.
“Alison was here with us as a consultant when we started Gazit Horizons, and she quickly proved herself to be an invaluable part of our team,” said Jeff Mooallem, President & CEO of Gazit Horizons. “Our desire to grow in the Boston market, coupled with Alison’s familiarity with that market both as a former resident and as an investor, made this a win-win and an easy decision. Alison will play a critical role for us, not only in our operations in Boston but in our overall acquisition strategy. I could not be happier to officially welcome her to our executive team.”
“I’m thrilled to continue as part of the Gazit Horizons team,” said Alison Lies. “We look forward to finding more large-scale investment opportunities in Boston’s urban submarkets, as well as our other target markets, and continuing to execute on our long-term investment strategy.”
ABOUT GAZIT HORIZONS, INC.
Gazit Horizons, Inc. was formed in May 2017 and invests in income producing real estate throughout the United States. With existing offices in Miami and New York City, the Company actively pursues assets in targeted markets, focusing on major metro areas and growing urban cores of “gateway” cities. Gazit Horizons invests in larger properties with mixed-use potential and looks for unique opportunities to uncover value through diversity of use as well as redevelopment and proactive asset management.
ABOUT GAZIT-GLOBE LTD.
Gazit-Globe is a global owner developer and operator of retail-based, mixed-use properties in North America, Brazil, Israel, northern, central and Eastern Europe, located in urban growth markets. Gazit-Globe is listed on the New York Stock Exchange (NYSE: GZT), the Toronto Stock Exchange (TSX: GZT) and the Tel Aviv Stock Exchange (TASE: GZT) and is included in the TA-35 index in Israel. As of September30, 2017 Gazit-
Globe owns and operates 130 properties, with a gross leasable area of approximately 2.7 million square meters and a total value of approximately NIS 37.5 billion. In addition, the Company owns 32.6% of First Capital Realty Inc and 10.9% of Regency Centers Corporation.
FOR ADDITIONAL INFORMATION
A comprehensive copy of the Company’s financial report is available on Gazit-Globe website at www.gazitglobe.com
Investors Contact: IR@gazitgroup.com
Media Contact Israel: PR@gazitgroup.com
Media Contact United States: firstname.lastname@example.org
Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000
Press Release | January 1, 2018
Gazit Horizons Acquires 467 Washington Street, Boston, MA from Frazer Capital, Represented by NKF Capital Markets Team
The U.S. subsidiary of Israel based Gazit-Globe expands its portfolio in Boston
BOSTON, MA / MIAMI, FL – Gazit-Globe (NYSE; TSX; TASE: GZT), a leading global real estate company focused on the ownership, development and management of shopping centers and mixed-use properties in major urban markets, announced today that its wholly owned subsidiary, Gazit Horizons, Inc., has acquired 467 Washington Street, in Boston, MA.
NKF Capital Markets’ U.S. head of capital markets Robert Griffin, executive managing director Geoffrey Millerd, associate director Paul Penman, and financial analyst Christopher Peterson oversaw the sale of the 10,500 square foot building on behalf of the Seller, Frazer Capital.
467 Washington Street is a two-story + lower level vacant asset in the Downtown Crossing district of Boston and is Gazit Horizons’ second acquisition in the submarket. Located near two MBTA subway stations and surrounded by some of the city’s newest retail, restaurant, hotel and residential developments, Gazit Horizons is actively engaged in discussions with several retailers to lease up the property.
“This asset is in a location ripe for continued retailer interest given pedestrian foot traffic and access to public transit,” said Paul Penman. “It represents another strategic acquisition for Gazit Horizons in the Downtown Crossing market, and another successful execution for Frazer Capital.”
“We are excited to continue to build our portfolio in Boston and be a part of the continued investment in Downtown Crossing” said Alison Lies, Gazit Horizons’ SVP of Acquisitions, who recently relocated to the Boston area to oversee the portfolio’s growth. “We look forward to finding more opportunities to invest in the city.”
ABOUT GAZIT HORIZONS, INC.
Gazit Horizons, Inc. was formed in May 2017 and invests in income producing real estate throughout the United States. With offices in Miami, New York City, and Boston, the Company actively pursues assets in targeted markets, focusing on major metro areas and growing urban cores of “gateway” cities. Gazit Horizons invests in larger properties with mixed-use potential and looks for unique opportunities to uncover value through diversity of use as well as redevelopment and proactive asset management.
ABOUT GAZIT-GLOBE LTD.
Gazit-Globe is a leading global real estate company focused on the ownership, management and development of retail and mixed use properties in North America, Brazil, Israel, northern, central and Eastern Europe, located in urban growth markets. Gazit-Globe is listed on the New York Stock Exchange (NYSE: GZT), the Toronto Stock Exchange (TSX: GZT) and the Tel Aviv Stock Exchange (TASE: GZT) and is included in the TA-35 index in Israel. As of March 31, 2018 Gazit-Globe owns and operates 104 properties, with a gross leasable area of approximately 2.5 million square meters and a total value of approximately NIS 38.1 billion. In addition, the Company owns 32.5% of First Capital Realty Inc and as of May 28, 2018 4.8% of Regency Centers Corporation.
ABOUT NKF CAPITAL MARKETS.
Newmark Knight Frank (NKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, NKF’s strong foundation makes it one of the most trusted names in commercial real estate. NKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing, corporate advisory services, consulting, project and development management, property and corporate facilities management services, valuation and advisory services, and capital markets services provided through its NKF Capital Markets brand.