Deal with Regional Supermarket Continues Leasing Momentum at New Mixed-Use Development

Cammeby’s today announced that NetCost Market has signed a 38,000-square-foot lease to relocate its Coney Island location to Neptune/Sixth, Cammeby’s new mixed-use neighborhood destination. The regional supermarket will serve as the anchor retail tenant of 532 Neptune Avenue.

The lease enables NetCost to expand from its current location in Coney Island within a neighboring property. The supermarket chain operates nine locations throughout New York, New Jersey and Philadelphia.

“NetCost Market is an important fixture and retail service in the Coney Island community, so we are extremely excited that this quality regional grocery chain has decided to relocate its neighborhood store to Neptune/Sixth,” stated Jacob Cohen, executive vice president of development at Cammeby’s. “As work begins on the project’s second phase, we expect that the presence of NetCost will play an important role in attracting tenants to the remaining available retail space.”

Neptune/Sixth is set to be home to a diverse mix of both retail shops and service-oriented business, while adding new amenities that the community can use and share, including ample parking. Neptune/Sixth also features brand new office space that several businesses will call home.

In recent months, Cammeby’s has announced lease agreements at 532 Neptune Avenue with Capital One, CVS Pharmacy and Apple Bank — all of which have been tenants of the former shopping center property that Neptune/Sixth will encompass. Additionally, Cammeby’s recently announced that department store DII will anchor Neptune/Sixth’s under-construction first phase, a seven-story commercial and retail building at 626 Sheepshead Bay Road.

“Cammeby’s has specifically targeted the types of retailers that Coney Island residents have communicated a desire to see at Neptune/Sixth,” stated Lee Block, executive vice president at Winick Realty Group, the exclusive retail leasing agent for Neptune/Sixth. “NetCost’s new space at 532 Neptune Avenue will allow the grocer to expand its offerings to meet the ever-growing demand in the neighborhood for top-quality foods that are rigorously sourced but reasonably priced.”

Designed by New York-based S9 Architecture, Neptune/Sixth is the comprehensive redevelopment of the former Trump Village Shopping Center and Royal Palace Baths. For more information, visit www.neptunesixth.com.

About Cammeby's

Founded in 1967 by Rubin Schron, Cammeby's is a privately held real estate company with a portfolio of office, residential and industrial real estate assets throughout 14 states. The company is headquartered in New York City and manages its business through operating platforms, each focused on a specific real estate asset class.