Dunder Mifflin Competitor Staples Inks Retail Biggie on Broadway
Tom Acitelli Oct. 6, 2009, 11:35 a.m.
The days when buying office supplies with a shopping cart was an activity reserved for the suburban masses are a distant memory, as Staples makes yet another carbon-copied imprint on the streets of Manhattan. The world’s largest paper-pusher signed a 10-year lease for 3,700 square feet at 1755 Broadway, where it plans to open early next year.
The office supplies superstore, which does an annual $23 billion in sales, recently announced it would expand its computer repair services. The announcement came after a steep decline in profits largely due to diminished sales of office chairs and desks.
Staples will pay roughly $175 a square foot for the Broadway space, with additional options over the course of its 10-year lease. The space in the 43-story building was previously occupied by Jennifer Convertibles and Innovation Luggage.
Ted Frumpkin represented Staples in-house along with Chase Wells of Northwest Atlantic. Jack Resnick & Sons’ Dennis Brady and Fran Delgorio represented the landlord.