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.
National retailers are pushing north from 72nd Street on the Upper East Side, chasing changing demographics and searching for value, according to several brokers active in the market. Both 86th Street between Third and Lexington Avenues and Madison Avenue north of 72nd Street have seen strong activity and booming lease prices.
“I did deals up there 10 or 15 years ago and was hard-pressed to push $110 to $120 per square foot,” said Patrick Breslin, executive vice president of global retail at Studley. “Today, if you can find good real estate on Lex on 82nd to 85th, you’re looking at $400, $500, $600 per square foot.”
CVS Pharmacy has leased a 14,274-square-foot retail condominium space below Alchemy Properties’ Griffin Court Condominium development at 454 West 54th Street, which was also sold to Heskel Group earlier this month, The Commercial Observer has learned.
The 25-year lease includes 9,000 square feet of street level frontage, set below the eight–story residential towers, where 95 condo units that hit the market in 2010 are roughly 85 percent occupied.
The property is located in the Hell’s Kitchen neighborhood, a first for CVS, and in close proximity to the theatre district.
Los Angeles-based fashion company Civilianaire has signed a 10-year lease at 53-55 East Houston Street on the corner of Mott Street in Nolita.
The new denim concept brand, which was founded by the principals of Lucky Brand Jeans, will occupy 1,250 square feet on the ground floor and a 400-square-foot basement.
This will be the first New York City location for Civilianaire, which has several stores across southern California.
In a scene reminiscent of the Oscars, Newmark Knight Frank’s Executive Managing Director Lance Korman learned he had won the national brokerage firm’s “Top Producing Broker of the Year” accolade on the very night of the awards ceremony.
Nothing says spring like a pair of Aerosole loafers with a skirt. Or as Newmark Knight Frank‘s Jason Pruger put it: “Women used to sneakers can wear the suit and the Aerosoles.”
To wit, the shoe brand is renewing its first New York City location in the iconic Chrysler Building for another 10 years. Aerosole Read More