Brooklyn’s Barclays a Boon for Borough Business
The new Barclays Center for the New Jersey Nets is set to open in September in downtown Brooklyn and it’s already drawing the eye of several prospective retailers.
Brands such as Lululemon, Y-3 and Intermix are said to be interested in developing in the neighborhood in anticipation of the spike in consumers from the Center’s sporting events, concerts and conventions. Leading the way is Adidas, which announced last month that it will be opening a 3,300-sq.-ft store in the Barclays Center that will sell official Nets merchandise.
The billion-dollar arena is expected to double rent prices for prime commercial real estate, and it’s only a matter of time before private real estate is affected as well. As Thomas Conoscenti, director of real estate and planning for the Downtown Brooklyn Partnership, puts it, “The arena is really going to solidify downtown Brooklyn as a destination, not just for Brooklyn residents but the entire region.”
Once any neighborhood gets popular, rents skyrocket and gentrification sweeps through like an unrelenting tide. And this time the tide’s coming straight from the Jersey shore. Hunker down and pray for daylight, Brooklynites. [WWD, sub req'd]