Lease Beat

Lovely Bridal Shop Waltzes into TriBeCa With 10-Year Lease

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Here comes the Lovely Bridal Shop after signing a 10-year lease at 182 Duane Street in TriBeCa.

The 2,500-square foot ground floor space, between Hudson and Greenwich Streets, features an additional 2,000-square-foot lower level.  A small backyard patio sits behind the all-glass doors that line the rear of the lower space, giving the shop a tucked-away, oasis-like feel that the owners sought, brokers involved with the deal said.

“This space just blew them away,” said Ross Kaplan, with Newmark Grubb Knight Frank, who represented the tenant with Kate Cohen.  “When they walked in the door they fell in love.  It was just what they were looking for because it’s got a great feel to it, very clean-looking, with great ceiling heights.” Read More

Lease Beat

CVS Takes 14,274SF Retail Condo at Griffin Court, Recently Sold to Heskel Group for $11.3M

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CVS Pharmacy has leased a 14,274-square-foot retail condominium space below Alchemy PropertiesGriffin 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. Read More

Lease Beat

7-Eleven Takes 2,500 Square Feet at 111 Fulton Street

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Convenience store chain 7-eleven has signed a long-term lease for roughly 2,500 square feet of retail space at 111 Fulton Street in the Financial District, The Commercial Observer has learned.

Ross Kaplan of Newmark Grubb Knight Frank represented the landlord, while Ariel Schuster and Greg Covey at RKF represented the tenant.

“There’s a flurry of activity going on Downtown,” Mr. Kaplan said, who has represented the landlord for the last year.  “Tourism and a dense commercial and residential population is a big draw for retailers in this part of town, especially quick-service shops.” Read More

Lease Beat

Au Bon Pain Takes 2,600 Square Feet at 111 Fulton Street

111 Fulton Street (Credit: Emporis)

Au Bon Pain has signed a long-term lease for roughly 2,600 square feet of retail space at 111 Fulton Street in the Financial District, The Commercial Observer has learned.

Ross Kaplan of Newmark Grubb Knight Frank represented the landlord, while Jacqueline Klinger of The Shopping Center Group represented the tenant.

“There’s a perfect storm going on Downtown,” said Mr. Kaplan, who has represented the landlord over the course of the last year.  “The dense commercial and residential population, as well as the tourism in the area, is a great draw for retailers.”

Read More

Lease Beat

Brooklyn Fixture Khim’s Millennium Market Coming to Downtown Brooklyn High-Rise

A glance inside Khim's 324 Graham Avenue location (Credit: The Best New York)

Khim’s Millennium Market – until now a fixture only in Williamsburg – has signed on to occupy the ground floor retail space at the base of Brooklyn’s tallest residential building, The Brooklyner at 111 Lawrence Street, The Commercial Observer has learned.

The organic grocery inked the deal for the roughly 7,000 square feet of space and roughly 70 feet of frontage with Equity Residential following an intensive polling and vetting process by the building manager to find the right tenant, brokers involved with the deal said. Read More

Lease Beat

SoCal Denim Concept Brand Civilianaire Leases 1,650 Square Feet at 53-55 East Houston Street

53-55 East Houston Street (Credit: Bowery Boogie)

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. Read More

Lease Beat

CVS Takes 10,000 SF on West 23rd St.

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The American drug retail company, CVS, will be opening a new retail location in Chelsea.

The company will take a 10,000 square foot unit at 500 West 23rd Street on the corner of 10th Avenue.

Ross Kaplan, a senior managing director at Newmark Grubb Knight Frank and broker for the tenant, noted that the “expanding Read More