Retail Lease Beat
Equity Office has signed the first two retail leases at its repositioned 5 Bryant Park property.
In the larger of the two long-term deals, Blink Fitness, an Equinox Fitness brand, has signed an 18,765-square-foot lease on the ground and basement levels of the property.
Fifth Avenue’s drop from the top spot of Cushman & Wakefield’s list of the world’s most valuable shopping destination has more to do with surging rental rates in Hong Kong than it does a loss of value here in New York. That city’s Causeway Bay now holds the distinction of being the most expensive strip Read More
Since 2010, when Retro Fitness opened its first New York area location in Staten Island, the low-cost fitness center has been making major inroads on the East Coast.
Now boasting six locations within the five boroughs, Retro’s low $19.99-a-month fee has been giving its closest competitor, Planet Fitness, a run for its money.
With a new lease on Avenue Y in Brooklyn signed earlier this month, and a projected 30 locations throughout the five boroughs in the next three years, Jack Terzi, a tenant rep for Retro Fitness and president of the brokerage firm JTRE, reviewed the floor plans of its soon-to-open gym at 1623 Flatbush Avenue with The Commercial Observer and explained why the rapidly expanding company chose to open in the Flatlands section of Brooklyn.
New Jersey-based Retro Fitness has its expansion set on New York.
The fitness gym has inked a deal for a new location in Gravesend at 325 Avenue Y for a 15,000-square-foot center.