New Duane Reade for 873 Broadway
Tom Acitelli Aug. 25, 2011, 8:54 a.m.
It seems there will be no true end to Duane Reade’s manifest destiny.
Earlier this week, the pharmaceutical behemoth inked a 15-year, 10,000-square-foot retail lease at 873 Broadway. The renewal, announced yesterday and boasting an asking rent of $100 a square foot annually, will feature 5,000 square feet on the ground floor and another 5,000 feet below street level, said Marty Meyer, a vice chairman with Colliers International who represented the landlord, 873 Broadway LCC, in the transaction. Steve Baker and Jeff Winick of Winick Realty, represented Duane Reade.
“Duane Reade is a valued pharmacy in the neighborhood,” said Mr. Meyer, who noted that the druggist has a highly visible presence alongside other retailers on Broadway, including Paragon and ABC Carpet & Home. “They have been a quality tenant, and we look forward to continuing the relationship.”