Forever 21 and Journeys have signed leases on Fulton Street in downtown Brooklyn, one of the fastest-growing commercial districts in New York City.
Forever 21 will open a 40,000-square-foot store in the lower levels of a five-story building at 490 Fulton Street. Crown Acquisitions, which leased the property, said the brands and formats to be featured by Forever 21 have yet to be determined. Asking rent for the first floor of Forever 21 was $325 per-square-foot and $55 per-square-foot for the lower level space.
Journeys will occupy a 4,000-square-foot space at 452 Fulton Street, also known as 1 Hoyt Street. Asking rent for the space, which was also leased by Crown, was $325. The lower, main and second floors are occupied by an Adidas store that was also leased by Crown.
Both retailers are scheduled to open by the end of the year.
The rents reflect the growing demand for retail locations on Fulton Street, which is in close proximity to the Barclays Center and Brooklyn cultural institutions.