JLL Capital Markets is marketing the high-traffic market Fulton Mall opportunity at 360-370 Fulton St.
JLL Capital Markets announced today that it has been retained to exclusively market for sale 360-370 Fulton Street, a 171,180-buildable-square-foot commercial development site in Downtown Brooklyn’s high-traffic Fulton Mall shopping district.
The 360-370 Fulton St. development site has flexible zoning that allows for a full-scale 171,180-square-foot mixed-use building. A combined footprintof 14,265-square-feet presents the opportunityfor a highly visible retail and residential destination in the heart of the Fulton Mall district.
The property offers more than 104 feet of retail frontage positioned at the intersection of at Fulton and Jay Streets, which sees more than 11,000 daily pedestrians. A popular destination for tourists, locals and area workers,Fulton Mall is the major shopping destination in Downtown Brooklyn. Hotels, universities, residential properties and nationalretailersare mixed with dozens of popular restaurants, bars and nightlifehotspots.
The property has extraordinary connectivity to transportation, with multiple subway stations serviced by nine subway lines, all located within three blocks of the development site. 360-370 Fulton St. is one block from the Jay St-Metro Tech A,C and F subway station; two blocks from Hoyt Street 2 and 3; two blocks from the Borough Hall 4 and 5; and three blocks from the Fulton Street and Lafayette Avenue stations A, C and G trains. The property is 10 minutes to the LIRR and less than 10 minutes from Wall Street in Lower Manhattan.
The JLL Capital Markets team representing the seller includes Vice Chairmen Stephen Palmese and Brendan Maddigan; Managing Directors Winfield Clifford, Michael Mazzara and Ethan Stanton; Vice President Patrick Madigan; and ChairmanBob Knakal.JLL DirectorJillian Mariutti will provide financing guidance, and Senior Vice President Ryan Condren will provide the retail guidance.
“This property is centrally locatedamid extraordinary residential development and a growing number of DowntownBrooklyn’s office, hotel and retail developments,” Palmese said. “These developmentswill have an estimated $11 billion in economic impact, creating significantly increased demand for new housing,amenities, workspaces and retail.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
