BFC Partner's Empire Outlets signs 100,000 s/f in new retail leases

According to BFC Partners, developer of Empire Outlets, 100,000 s/f of retail space has been leased at the one million s/f development, completing another important milestone in the revitalization of the North Shore. Among the national brands joining Empire Outlets include Gap Outlet, Banana Republic Factory Store,White House Black Market, Columbia Sportswear Company, Guess Factory Store, Wilsons Leather, G.H. Bass & Co., Lids, Obey Your Body, Innovation Luggage, Walgreens, Haagen Daz, Krispy Kreme, Nathan's Famous and Applebee's. A ceremonial groundbreaking for the project will showcase these leases on Thursday, April 16th at the Richmond County Ballpark in St. George. "We are extremely excited to welcome these premier retailers at Empire Outlets," said Joseph Ferrara, a principal at BFC Partners with Donald Capoccia and Brandon Baron. "The global presence and appeal that these brands have to our local, domestic and international visitors will undoubtedly be an experience that guests will want to repeat time and time again." Two other retailers recently joined Empire Outlets: Nordstrom Rack, the off-price retail division of Seattle-based Nordstrom, Inc., which has taken 34,000 s/f of retail space as one of the project's anchors, as well as Swedish fashion retailer H&M, which has signed for 26,000 s/f at the complex. As part of the company's commitment to the community, BFC Partners, along with the above mentioned retailers, has committed to use New York City Economic Development Corporation's HireNYC program to create a targeted local hiring plan to fill the jobs generated by the one million s/f development. HireNYC is a free city program that connects the city's workforce development services to economic development projects. In addition to creating thousands of new construction jobs, as part of its development, BFC Partners is making significant efforts to work with tenants to facilitate the hiring of Staten Island residents for the permanent jobs that the project will create, ensuring that the development will provide the area with an economic boost that will assist residents, attract visitors, and provide retailers with quality employees. "We are extremely grateful to our partners at Empire State Development Corp., NYCEDC and Goldman Sachs for helping us make our vision into a reality on the North Shore of Staten Island," said Capoccia. "In addition to addressing the needs of the local community, New York City will soon recapture hundreds of millions in lost spending, real estate taxes, sales tax revenue and payroll tax revenue from the 1,000+ new permanent jobs at Empire Outlets. This will not only benefit our retailers, but it will transform the lives and prospects for hundreds of thousands of New Yorkers for decades to come." "As New York City's only outlet shopping center, Empire Outlets will no doubt become a premier destination, boosting regional tourism and bringing thousands of new jobs to Staten Island," said Empire State Development president, CEO & commissioner Howard Zemsky. "Empire Outlets meets the New York City Regional Economic Development Council's long-term goals for growth in the region, and we are proud to have worked with both NYCEDC and Goldman Sachs to support this exciting new venture." "Empire Outlets will bring over 1,000 jobs and millions in private investment to the North Shore of Staten Island, joining the other catalytic projects in the area to make the neighborhood a destination for residents and visitors," said NYCEDC president Kyle Kimball. "These new leases are just a few of the 100 stores that will call Empire Outlets home, and by utilizing HireNYC, BFC Partners is not only providing shopping opportunities, but also job opportunities to the local community." Goldman Sachs, through its Urban Investment Group, provided $130 million of capital for Empire Outlets, which is part of the firm's broader commitment to impact investing in New York City. To date, Goldman Sachs has committed $2 billion to over 100 projects across all five boroughs - in areas like affordable housing and new community and healthcare spaces. "We are proud to invest in the revitalization of this community and help give businesses the opportunity to grow their operations on Staten Island," said Margaret Anadu, managing director, Goldman Sachs. "EmpireOutlets will play a role in the continued transformation of the New York Harbor by creating jobs, attracting visitors and bringing new economic energy to the borough." BFC Partners is currently in negotiations with other prominent national retailers. "Our broker team has done an incredible job making our vision come to reality with the caliber of tenants we have placed at Empire," Ferrara said, citing the leasing team of James Prendamano and John Pitera of Casandra Properties and Andrew Boyle and Peter Edelmann of EB Development. Located directly adjacent to the St. George Ferry Terminal, the multi-million dollar Empire Outlets project will include 340,000 s/f of prime retail space with 100 designer outlet retailers; a 190-room hotel featuring a rooftop venue with expansive waterfront views; a 1,250-space structured parking garage; and a 40,000 s/f food and beverage deck that will provide extraordinary views of the Manhattan skyline. The project will be adjacent to the New York Wheel, which will be one of the tallest observation wheels in the Western hemisphere.