Lease Beat

CVS Leases Space at 3 Columbus Circle

Pharmacy CVS Caremark has signed a 15-year lease for 21,158 square feet at 3 Columbus Circle, it was announced this morning. Asking rents were not disclosed.

The lease is for the vacant part of the 768,565-square-foot building’s ground floor and a portion of the second floor, according to a statement from SL Green Realty, the landlord in partnership with The Moinian Group. The pharmacy is expected to occupy the space beginning June 1.

3 columbus circle 472 retouch CVS Leases Space at 3 Columbus Circle“We’re delighted to welcome CVS, a widely-respected national retailer, to 3 Columbus Circle,” said Steven Durels, director of leasing and real property at SL Green, in a prepared statement.

The building at 3 Columbus Circle, formerly known as 1775 Broadway, occupies the entire block between Broadway and Eighth Avenue. The property recently underwent a renovation which included a new glass façade, a relocated and expanded lobby, new elevators and other infrastructure upgrades.

The Winick Realty Group, which represents the landlord, is currently marketing the former Daffy’s space at 3 Columbus Circle, according to Jeff Winick, chief executive officer. The space, which is in the process of being converted, offers an entrance on 57th street and 55 feet of frontage. Availability includes the 5,300 –square-foot ground floor, a 19,000-square-foot lower level and 14,200 square feet on second level, which will face the new Nordstrom’s entrance.

“We’re targeting clothing [for the space],” Mr. Winick told The Commercial Observer. “It’s going to be one of the big box clothing guys.”

As reported by The Commercial Observer, Young & Rubicom, the property’s anchor tenant, expanded its space at 3 Columbus Circle in October. The advertising firm took an additional 34,634 square feet across the entire 11th floor, bringing its total occupancy to 373,755 square feet.

Jason Pruger of Newmark Grubb Knight Frank represented the tenant in the deal. Mr. Winick and Kelly Gedinsky of Winick represented the landlord.

NGKF and SL Green did not immediately return requests for comment.

Follow Gus Delaporte via RSS. gdelaporte@observer.com