{"id":1004164820,"date":"2017-01-23T07:05:24","date_gmt":"2017-01-23T15:05:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004164820"},"modified":"2022-12-08T11:25:29","modified_gmt":"2022-12-08T19:25:29","slug":"forest-city-sells-bronx-retail-center-for-32m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/forest-city-sells-bronx-retail-center-for-32m\/","title":{"rendered":"Forest City Sells Bronx Retail Center for $32M"},"content":{"rendered":"<p>By Laura Calugar<\/p>\n<div id=\"attachment_1004164821\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Shops-at-Bruckner-Boulevard-NY.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004164821\" data-attachment-id=\"1004164821\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/forest-city-sells-bronx-retail-center-for-32m\/shops-at-bruckner-boulevard-ny\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Shops-at-Bruckner-Boulevard-NY.jpg\" data-orig-size=\"1247,616\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Laura Calugar&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1485166622&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Shops at Bruckner Boulevard, NY\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Shops-at-Bruckner-Boulevard-NY.jpg?w=1024\" class=\"wp-image-1004164821 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Shops-at-Bruckner-Boulevard-NY.jpg\" alt=\"The Shops at Bruckner Boulevard in New York\" width=\"300\" height=\"148\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Shops-at-Bruckner-Boulevard-NY.jpg 1247w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Shops-at-Bruckner-Boulevard-NY.jpg?resize=300,148 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Shops-at-Bruckner-Boulevard-NY.jpg?resize=768,379 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Shops-at-Bruckner-Boulevard-NY.jpg?resize=1024,506 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004164821\" class=\"wp-caption-text\">The Shops at Bruckner Boulevard in New York<\/p><\/div>\n<p><strong>New York\u2014<\/strong>Forest City Realty Trust Inc. recently announced that is has sold the Shops at Bruckner Boulevard, also known as Bruckner Plaza, a 116,000-square-foot specialty retail center in the Bronx. Urban Edge Properties acquired the property for $32 million and the transaction is expected to generate net proceeds to Forest City of $9.2 million. Forest City owned the property in a 51\/49 percent joint venture with Madison International Realty LLC.<\/p>\n<p>Located at 1910 Story Ave., Shops at Bruckner Boulevard Shopping Center is close to Jamie Towers, Unionport and Castle Hill Houses, as well as to Police Officer Hilario Serrano Playground, Space-Time Playground and Soundview Health Center. The mall first opened in November 1996. Currently, Conway, Jimmy Jazz, Danice, Old Navy, Blockbuster and Marshalls are among the retail center\u2019s tenants.<\/p>\n<p>&#8220;We&#8217;re pleased to complete this sale, which aligns with the shared objectives of Forest City and our joint venture partner, Madison International. We continue to have constructive discussions with Madison about our desire to explore strategic alternatives for the balance of our specialty retail portfolio and we anticipate providing additional updates to the market as those discussions progress,&#8221; said David LaRue, Forest City\u2019s president &amp; CEO, in prepared remarks.<\/p>\n<p>Approximately one year ago, Cleveland-based Forest City transformed into a <a href=\"https:\/\/www.commercialsearch.com\/news\/forest-city-enterprises-could-be-reit-by-2016\/\" target=\"_blank\" rel=\"noopener\">REIT<\/a> that focuses portfolio on core apartment, retail and office assets in strong, urban markets.<\/p>\n<p><em>Image via Google Street View <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Forest City owned the property in a 51\/49 percent joint venture with Madison International Realty.<\/p>\n","protected":false},"author":238,"featured_media":1004164821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1600,21742,10,21749],"tags":[33592,33189,33593],"class_list":["post-1004164820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-new-york","category-latest","category-northeast","category-retail","tag-forest-city-realty-trust","tag-madison-international-realty","tag-urban-edge-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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