Furniture Chain Takes Vacant Linens Site

NEW YORK CITY—Raymour & Flanigan Furniture has taken over a 40,000-square-foot retail space in Brooklyn that was left vacant when Linens N Things closed its doors. A spokeswoman for Ripco Real Estate, which arranged the lease at 3035 Cropsey Ave. in Brooklyn, tells GlobeSt.com the company cannot comment on terms of the deal.

“Our expansion into the former Linens space affords us the opportunity to provide additional convenient service to customers in Brooklyn and the greater metro New York market,” says Scott Milnamow, Raymour & Flanigan’s VP of real estate development, in a release. “This will be our second store in Brooklyn.”

The Ripco spokeswoman says her company has assisted Raymour in several deals throughout the New York metro area, including its December 2007 acquisition of 18 leases held by the bankrupt Levitz Furniture chain. Ripco also steered Liverpool, NY-based Raymour toward its new 40,000-square-foot store, which is scheduled to open at Bronx Terminal Market this summer. The chain is the 10th largest and third fastest-growing conventional furniture and mattress retailer in the US, according to a May 2008 ranking in trade publication Furniture Today.

Ripco’s Jeremy Isaacs was the sole broker in the 3035 Cropsey transaction. The freestanding property, which is owned by a group of New York investors, was vacant for three months after Linens N Things liquidated, according to Ripco. Isaacs has also arranged leases for other large retailers in the neighborhood, including Kmart and Kohls at the Caesar’s Bay Shopping Center at 8973 Bay Pkwy. and Best Buy at 8923 Bay Pkwy. “This trade area has a history of success and I believe that will be the case for Raymour as well,” Isaacs says in a release.