Sunday, March 1, 2020

Amazon takes over K-Mart/Toys 'R' Us former spaces at the Renter Plaza Mall!%2FhttpImage%2Fimage.jpg_gen%2Fderivatives%2Flandscape_768%2Fimage.jpg&f=1&nofb=1


Just over a year after Amazon scuttled its plans to build a massive HQ2 campus in Long Island City, and create 25,000 jobs, the e-commerce giant has signed a new lease for space in Middle Village.

Amazon is taking roughly 300,000 square feet of space in Rentar Plaza, located at 66-26 Metropolitan Ave., according to the loan database TreppWire.

“I am thrilled to hear that Amazon has signed a lease at Rentar Plaza, which is in desperate need of revitalization,” Councilman Robert Holden said. “I actually suggested this location to Amazon two years ago. My hope is that this brings hundreds more jobs and renewed commercial activity to the area, which will be extremely valuable to our community for years to come.”

The Real Deal reports that Amazon will be taking over the Metropolitan Museum of Art’s 109,000-square-foot space, plus the remaining 190,000 square feet of vacant space on the property.
QNS reached out to Amazon and is awaiting its response. The Metropolitan Museum of Art’s lease was set to expire in July, and the Amazon lease brings Rentar Plaza to full occupancy, the Real Deal reports.

The city of New York is the property’s largest tenant with more than 500,000 square feet of space occupied by the Department of Citywide Administrative Services.
Amazon is also in talks for a giant distribution center in Maspeth at the old Cascades 

Containerboard factory on Grand Avenue. That property was recently acquired by a California-based company called LBA Realty for $72 million and the deal involves a partnership with RXR to build a four-story warehouse that would be ideal for the “last mile” of logistics for the e-commerce company.


Anonymous said...

Amazon will be a great anchor to revitalize this sad shopping mall. Kidding! A huge store you can't shop at!? Well, we all shop online anyway, right? So much more selection.

Anonymous said...

This is good news better than sitting empty and paying no rent or taxes.

Anonymous said...

Taxes are still payed even when its empty.

Anonymous said...

Better Amazon than some retail store where the police would have to be stationed due to the amount of shoplifting this site has had in the past.

Anonymous said...

"Taxes are still payed even when its empty."
Really sales taxes, income taxes are stilled payed ?
Not to mention all the economic benifits to the surrounding stores.

Anonymous said...

No Retail, but do we know if Amazon is planning on making retail space?
Where did everyone read the statement of no retail?

I would love to see a whole foods there if it's an option for Amazon.
And before the complaints of small stores, Trader Joe's already takes away that business. Whole foods is expensive so it limits consumers already. I think it would be a benefit for those looking for all the options they offer.

I'd love to see mixed use space.

TommyR said...

Rentar plaza was/is dead, and has been for decades. Better a building that looked like a huge fucking warehouse no one wanted to shop at anyway, finally get used for what suits its layout best.

JQ LLC said...

You know what would have worked well here Tommy? A paper bag manufacturing plant.

TommyR said...

Ha! Partly it's used for a police training academy last I recall. Warehouse is fine. Give some jobs to local peeps in Ridgewood n' MV. I miss the days when Pergament and Walbaums were there but the times have changed and the world has moved on.

Anonymous said...

>Taxes are still payed even when its empty.

On the contrary, landlords get tax breaks for stores sitting empty, because they can write them off as a loss. That's why they don't mind tripling rents and kicking profitable, long running mom & pop companies out of their stores. If they get some sucker high-end chain stores to pay the inflated rents, they win. If they don't get a new renter, they write it all off as a loss and pay no taxes on the property (and pay less tax overall, too, due to how the tax laws work). The only losers are the community and us, the taxpayers. But we're not important, just ask Mr. Tale of Two Cities.