The Real Deal is reporting that Downtown Brooklyn's Toren has tapped CPEX as the marketing team for the building's 13,000 square foot retail space. There was previous press about the space being used to house an "upscale" eco-friendly grocery store, but apparently that deal looks like it has fallen through. According to Rob Morea, a sales associate for the group that co-owns BFC Partners (the developer for Toren), "We had brought a grocer there [but] we couldn't agree on terms and then the market changed...Toren came out very popular [before the market downturn]. They were trying to hold out maybe for a better tenant." A better tenant? We would think both the Toren's developers and the residents of the area would be nothing short of ecstatic for a high-end supermarket arriving.
What's the new tactic for marketing the retail space? CPEX principal Timothy King says "We use what we like to call the shotgun and the sniper rifle approach. The sniper rifle is where we sit down and say, who is the really ideal tenant for this place".
· Toren retail space gets brokerage team after year-and-a-half without one [The Real Deal]
· Toren Coverage [Curbed]