CB Richard Ellis Inks Deal to Bring School to Burgeoning Neighborhood
New York, NY – July 7, 2011 – (RealEstateRama) — 184 Kent, the luxury residential rental that opened on Williamsburg’s waterfront one year ago, has recently secured a tenant for 8,000 square feet of ground floor retail space. The space was leased by The River School, a childcare and educational facility that will open at 184 Kent in 2012.
Dean Rosenzweig, vice president, CB Richard Ellis Retail, and Daniel Kaplan, CBRE associate, represented the owners of 184 Kent in the transaction, which has a 20-year term.
“We’re pleased to bring the well regarded River School to 184 Kent,” said Jason Halpern, managing partner of JMH Development, the property’s owner and developer. “The Williamsburg waterfront is populated by young creative professionals and, increasingly, couples who are starting families. The River School is a great fit for the neighborhood.”
Founded 20 years ago by Richard and Jane Kresch, The River School provides year-round childcare and education for children 8 weeks through 5 years of age. It is designed to meet the needs of working parents as well as those who are seeking a stimulating and academically enriched environment for their children. 184 Kent will be the fourth location of The River School, which is also in operation in Jersey City and on Manhattan’s West End Avenue.
Mr. Kaplan said: “184 Kent is in the heart of a rapidly evolving and energetic neighborhood that has recently welcomed retailers such as Duane Reade and Chase Bank. The River School is well positioned to serve the needs of residents occupying the thousands of new apartments in this neighborhood.”
An additional 10,000 square feet of retail space is currently available at 184 Kent, which is located on the Brooklyn waterfront at Kent Avenue between North Third and North Fourth streets. 184 Kent’s available retail features 30-foot ceilings and massive, floor-to-ceiling windows along with space for outdoor seating.
A Cass Gilbert designed warehouse, 184 Kent was built in 1915. Three years ago, JMH began to transform the property into luxury loft rentals. Leasing began at the building in 2010, and the property is 100 percent occupied. The property offers 340 residential rentals in studio, one-, two- and three-bedroom layouts, which can be viewed at www.rentonkent.com.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com
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