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THE APPEARANCE of big-box stores in Brooklyn over the past few years was a signal to many that the borough was undergoing a renaissance. Retail action seemed to be matching a pace of residential development so breathless that people sometimes called Brooklyn the new Manhattan.
But other merchants have failed to follow the bigbox stores. This is particular ly noticeable in areas like downtown Brooklyn, Greenpoint, Red Hook and Williamsburg, where new mixed-use residential buildings have created an abundance of streetlevel retail space. Brokers admit that while clients have expressed significant interest in these areas, most are taking a wait-and-see approach.
In some neighborhood, even the promised big boxes have yet to arrive.
"At the moment, this is all talk," says Pat Breslin, president of the GVA Williams retail group. "The developers are creating the buzz that they will have a Wal-Mart or a Target."
Williamsburg is the area believed to have the most retail potential. Ben Fox, executive vice president...