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Burlington signs 44,070 sf lease at Bay Ridge’s Century Marketplace
The 458 86th Street development is a $130 million mixed-use project, targeting 95,000 square feet of retail, and is expected to open in 2028.
Off-price retailer Burlington has signed a lease for 44,070 square feet of retail space at Century Marketplace, a new retail development planned for 458 86th Street in Bay Ridge, Brooklyn, developer MCB Real Estate said Tuesday, according to Commercial Observer.
The property is being redeveloped on the former 14-lot Century 21 department store site into a 95,000-square-foot retail center as part of a $130 million mixed-use overhaul. MCB began the redevelopment last year.
MCB also signed a grocery store lease for 16,042 square feet at the project, and the combined deals bring the assemblage to 65 percent leased. The center is expected to open in 2028.
MCB and urban retail investment firm Osiris Ventures acquired the old Century 21 site in July 2025 for $47.5 million. The lease length and asking rent for Burlington were not disclosed, while the report cited an average asking rent of $85 per square foot along 86th Street in Bay Ridge last year, based on a Brooklyn retail report from the Real Estate Board of New York.