Leases  ·  Retail

Phenix Opening 8K-SF Salon at 171 West 230th Street

Beauty is in the eye of the beholder of the lease

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An innovative beauty salon chain is opening its seventh New York City location underneath the 1 train in the Bronx, Commercial Observer has learned.

Phenix Salon Suites signed a 10-year lease for 7,832 square feet at Broadway Plaza, a two-story retail development at 171 West 230th Street in Kingsbridge, according to landlord broker JLL (JLL).

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Brokers declined to share the asking rent for the space, but the average asking rent at four storefronts available in the same neighborhood is $53.50 per square foot, according to LoopNet listings.

Phenix has carved a niche in the salon business by allowing stylists to rent their own suites equipped with a chair, sink and other amenities within a larger salon, according to the company’s website. Since its founding in 2007, Phenix has opened more than 300 locations across the country.

Ripco Real Estate’s Benjamin Weiner and Jeffrey Howard represented Broadway Plaza landlord Regency Centers, while JLL’s David Townes and Alana Friedman handled the deal for Phenix.

It was one of three lease deals totaling 23,000 square feet JLL recently brokered for Phenix in New York and New Jersey as part of the company’s expansion plans in the Northeast. 

Phenix also signed a 15-year lease for 6,000 square feet in Mid Valley Mall in Newburgh, N.Y., and a 10-year lease for 9,000 square feet at Midstate Mall in East Brunswick, N.J.

The chain “continues to disrupt the traditional salon business with a distinctive coworking concept,” Townes said in a statement. 

“The New York metropolitan area is a tremendous market for the company, and we look forward to supporting its continued expansion efforts in other prime locations,” Townes added. 

Ripco declined to comment on the deal.

Other major tenants at Broadway Plaza include Best Buy, TJ Maxx and Aldi Supermarket.

Abigail Nehring can be reached at anehring@commercialobserver.com.