Chain Chain Chain
Smashburger has signed a 5,432-square-foot new lease for a retail space at 10 West 33rd Street with plans to move in this coming April.
David Levy, principal of Adams & Co., who represented the tenant and the landlord, struck a concurrent deal for 1,385 square feet of contiguous space for a Dunkin Donuts.
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Food & Drink
Fewer national chains opened New York City locations between 2012 and 2013 than in any year since at least 2008 according to a report by the nonprofit research group Center for an Urban Future.
The slight 0.5 percent increase in the number of chain retail locations paled in comparison to the 2.4 percent spike between 2011 and 2012. In fact, there are currently fewer chains in Queens and Manhattan than last year, perhaps giving hope to critics of the city’s supposed transformation into an outdoor mall.
A new report from the New York City Economic Development Corporation reveals that 42.7 percent of the city’s 1,700 coffee shops and cafes are either Dunkin Donuts or Starbucks branches.
There are 454 Dunkin Donuts locations and 272 Starbucks stores across the five boroughs, according to findings that the E.D.C.’s StatsBee’s blog published on Friday. The East Village’s 10003 zip code was the most caffeinated in the city, with 49 cafes. Midtown and Hell’s Kitchen’s 10019 zip code followed, with 47 shops. Outside Manhattan, Park Slope (11215) and Glendale (11385) each had 32 coffee shops. Both narrowly edged out Williamsburg (11211), which had 31 joe-providing freelancer magnets.
Post-Tropical Storm Sandy
Winick Realty Group has been selected by Brookfield Office Properties to exclusively market 40,000 square feet of vacant sub-level retail space at One New York Plaza.
The space, damaged during Hurricane Sandy and slated to be rebuilt and repositioned, makes up the concourse level of the 2.6-million-square-foot Class A tower, with entryways on Whitehall, Broad and Water Streets.
Tales of Investments
Brookfield Office Properties was forced to gut the 31,000-square-foot, sub-level retail concourse at One New York Plaza after severe flooding brought on by Hurricane Sandy destroyed it, and now the commercial real estate owner plans to rebuild the space and bring new tenants in, The Commercial Observer has learned.
The estimated 23-million-gallons of water that flooded the lower levels of the building were removed within a week of the storm’s touchdown on the southern tip of Manhattan.
But as of Monday night, multiple giant yellow heating ducts resembling something from an alien horror flick continued to pump warm air into the building’s retail center – The Plaza Shops – amid the rumbling of temporary generators.
Greenwich-based REIT Urstadt Biddle Properties has acquired an interest in a limited liability company that it said will both own and operate the Orangetown Shopping Center, at 15 Dutch Hill Road in Orangeburg.
The Rockland County shopping center is 75,000 square feet and anchored by a 12,400-square-foot CVS drug store. Other tenants there include Allstate, Dunkin Donuts and Subway. Overall, it’s 96 percent leased, UBP’s CFO John Hayes tells The Commercial Observer.