Yisroel R.

A major transformation is moving forward at the former Century 21 site in Bay Ridge, with Burlington and a yet-to-be-named national grocery chain officially signing leases at the new Century Marketplace development.

The two retailers will occupy a combined 60,112 square feet at the $130 million project at 458 86th Street, between Fourth and Fifth avenues. The 120,000-square-foot development is now approximately 65% pre-leased.

Developers MCB Real Estate and Osiris Ventures say the grocery store will be the first national grocer serving the immediate Southwest Brooklyn trade area. Burlington, the well-known discount retailer, will also open at the property, which has remained vacant since the former Century 21 location closed.

Century Marketplace is planned to include additional retail space, with room for two more junior anchor stores as well as approximately 15,000 square feet of smaller shops. The developers recently secured $76.7 million in construction financing from Truist Bank for the redevelopment.

The project is separate from another redevelopment nearby, where a SuperFresh supermarket is planned for a former Century 21 property on 87th Street. The newly announced unnamed grocery store and Burlington will both be part of Century Marketplace on 86th Street.