Health Store Joins Union Square Influx; Snaps Up Malkin Space After Bank Move

Mon, 23 Nov 2009 16:41:37 -0400

Price Wise Health & Beauty Aids is adding its brand to the Union Square assemblage, which reads like an ode to American consumerism: Whole Foods, Jamba Juice, Sephora, lululemon, DSW, Petco, Vitamin Shoppe, Bank of America, Staples, Trader Joe’s, Starbucks. The neighborhood is also home to one of the city’s busiest subway stations.

The retailer, which currently has three Manhattan locations, will open a 4,545-square-foot at 10 Union Square East store next spring. The retail condo, which now stands at 100 percent occupancy, also recently signed tenants Chipotle, Subway and Bravo Pizza.

Fred C. Posniak, one of the brokers on the deal, cited the nearby N.Y.U. dorms as a source of growing consumer demand in the area. The space, he said, opened up because of a bank consolidation and “was snapped up quickly, even before it became vacant.”

He also noted, “The location is simply too good, and it’s getting even better, with Nordstrom Rack and Best Buy about to move in on East 14th Street.”

Warren Newcorn of Newcorn Realty Co. represented the tenant in the 15-year transaction. Mr. Posniak negotiated in-house on behalf of the building’s owner, Malkin Properties.

egeminder@observer.com

The Commercial Observer » Health Store Joins Union Square Influx; Snaps Up Malkin Space After Bank Move

Health Store Joins Union Square Influx; Snaps Up Malkin Space After Bank Move