Century 21 Redevelopment Adds Burlington, National Grocer to Tenant Roster

MCB Real Estate, an institutional commercial real estate investment management firm and developer with nationwide holdings, and Osiris Ventures, an urban retail-focused investment firm, have secured leases with two major retail brands at Century Marketplace, the $130-million mixed-use redevelopment of the 14-lot Century 21 department store assemblage at 458 86th St. in Brooklyn’s Bay Ridge neighborhood.

A national grocery anchor has signed a lease at the property, becoming the first national grocer to serve the immediate Southwest Brooklyn trade area. National designer-discount retailer Burlington has also signed on, and together the two leases total 60,112 square feet. With these additions, the 120,000-square-foot Century Marketplace is now 65% pre-leased.

“Century Marketplace demonstrates MCB Real Estate’s ability to execute complex structuring while delivering high quality, attractive retail to dense markets,” said MCB principal Drew Gorman. “By bringing together a nationally recognized specialty grocery anchor, and top national retailers like Burlington, we are reigniting a well-known commercial corridor and unlocking long term value for Southwest Brooklyn.”