NEWS

Saks Inks First Bronx Deal with 25K s.f. store in Bay Plaza SC

Saks Fifth Avenue is bringing its first store to the Bronx with a Saks Off 5th at Prestige Properties & Development’s open-air Bay Plaza Shopping Center near Co-op City.

The new discount store will span 25,000 square feet at ground level at 200 Baychester Avenue, Jerry Welkis of Welco Realty told Commercial Observer. He represented Prestige along with colleague Etan Shalem. The Saks Off 5th will be next to K-Mart, he said, and is slated to open by early-fall 2017.

“It’s a wonderful thing that we’re bringing an iconic fashion brand name to Bay Plaza Shopping Center and we’re thrilled they chose Bay Plaza as their first store in the Bronx,” Welkis said.

 The lease, signed in August and recorded with the city yesterday, is for 10 years, according to public records, first spotted by The Real Deal. Welkis wouldn’t provide information about the asking rent.

Tenants in the 1.2-million-square-foot Bay Plaza Shopping Center are Party City, Toys “R” Us, Babies “R” Us, Marshalls, DSW, P.C. Richard & Son, AMC Theatres, Modell’s,Stop & Shop, Carter’s, Pier 1 Imports and eateries like Dallas BBQ andApplebee’s. Prestige is also behind the adjacent 860,000-square-foot Mall at Bay Plaza, which had its grand opening in August 2014. Bay Plaza Shopping Center is today at least 95 percent occupied, Welkis noted.

Brian Katz of Katz & Associates represented Saks. He confirmed he did the deal for Saks but declined to comment further.

With additional reporting provided by Terence Cullen.

https://commercialobserver.com/2016/10/saks-inks-first-deal-in-the-bronx-with-25k-sf-discount-store-in-bay-plaza-shopping-center/

 

October 27 2016