American Eagle will be expanding in Harlem.
The preppy teen retailer has signed a deal for an 8,500-square-foot lease at 100 West 125th Street, the brand’s most northern location in the city. American Eagle will join Burlington Coat Factory and Whole Foods in the soon-to-be-built development on the corner of Malcolm X Boulevard and 125th Street.
The project is a venture of Jeff Sutton-led Wharton Properties. The prominent retail developer is behind many prime locations in the city such as 724 Fifth Avenue, 720 Fifth Avenue, 1551 Broadway, 15 West 34th Street, and 747 Madison Avenue, among many others.
100 West 125th Street is the latest to come to Harlem and will span the entire block between 124th and 125th Streets on Malcolm X Boulevard, otherwise known as Lenox Avenue. The development will feature 180,000 square feet of retail space in which Whole Foods will take 39,000 square feet on the ground and lower levels and Burlington Coat Factory will take 70,000 square feet on the top three floors.
Construction is expected to start in May with store openings in 2015. Not only will American Eagle be opening their first location in Harlem, but it will be Whole Foods’ first as well. The grocery store is on expansion mode, opening two locations in Brooklyn and crawling up Manhattan island with a location on the Upper East Side at 87th Street and 3rd Avenue and now Harlem.
The asking rent was $160 per square foot and the 15 year lease should bring in $30 million, the Post reported.
New York City Prime exclusively represented American Eagle in their expansion. Jeff Sutton represented himself on behalf of his development company.
