Metrovest Equities completes new retail strip in the Bronx.

The shopping choices got a little more varied in one Bronx neighborhood with the completion of a 17,000-SF retail strip center at the corner of White Plains Road and Story Avenue.

Metrovest Equities Inc completed the center, which is anchored by Jimmy's Cafe and Restaurant and features a Jennifer's Convertibles and other stores. A grand opening ceremony was held last week.

"We feel the types of stores in our center will make a real contribution to the area. For example, Jimmy's Cafe and Restaurant will be one of the few places in the neighborhood in which people can enjoy leisurely, quality dining in lieu of fast food," said George Filopoulos, president of Metrovest Equities, based in Astoria.

Metrovest, which specializes in restructuring of failed assets, was looking for opportunities to invest when it discovered the site at 905-907 White Plains Road and 1901-1905 Story Ave. The site was purchased as part of a bankruptcy package. This is the first Bronx project for Metrovest, which has completed projects throughout the city's five boroughs and New Jersey, company officials said.

"The site was underutilized and it was an eyesore to the neighborhood," said vice president Philip Fierro. "There's a lot of opportunity in the Bronx, especially with retail."

With the Bruckner Expressway a few blocks away and five bus stops in the vicinity, the area is well traveled by both automobiles and pedestrians and well-suited for retail development. In fact, across from the new strip is the Bruckner Plaza which houses national retailers such as K-Mart and Toys R Us.

The new strip contains seven stores ranging in size from 1,400 to 4,000 SF. The high-end design presents a unique face to the area, with a sand-colored facade composed of decorative split face block with chrome trim. Metrovest completed the build-outs of the stores, but not the restaurant, according to company officials.

When they were searching for retail tenants for the strip, Metrovest wanted a mix of local and national retailers with stores that complemented each other. In addition to the restaurant and furniture store, there is a discount clothing store, beauty supply store, dollar store, Popeye's fast food restaurant and a gourmet deli. Metrovest broker Tim Salouros represented the landlord and is responsible for leasing the majority of the spaces.

"Salouros did a magnificent job getting the word out about our new retail strip center and we are extremely pleased about the response it has received from area businesses and the community at large," Filopoulos said.