Car Rental Company Avis Budget Group Takes 21K SF in the Bronx

Car rental company Avis Budget Group will open a location in the Bronx’s Eastchester neighborhood next month.

The company, which offers car and truck rentals through Avis and Budget and car sharing through Zipcar, has signed a 20-year lease for 21,400 square feet at 4075-4077 Boston Road, according to tenant broker Lee & Associates NYC. Asking rent was between $450,000 to $500,000 per year.

The deal includes a 16,000-square-foot parking lot, which Avis will use to store its cars and trucks, according to Lee.

The one-story building on the corner of Boston Road and Provost Avenue is owned by 4077 Boston Road LLC, an entity owned by Gadi Ben-Hamo‘s G&O Management, Lee said.

“We have seen a significant increase in retail leasing velocity across the Bronx,” Lee’s Steve Lorenzo, who brokered the deal for the tenant along with Garry Steinberg, said in a statement. “Our team has a deep history working in various submarkets throughout the borough, and we are excited to witness its continued growth.”

Pinnacle Realty’s Ariel Castellanos and Federico Mazzeo represented the landlord. Spokespeople for Avis and Pinnacle did not immediately respond to requests for comment, while a spokesperson for the landlord could not be reached for comment.

Avis, which has approximately 24,500 employees working across 10,250 rental locations over 180 countries, will add its new Bronx location to its several existing New York City outposts across Manhattan and Brooklyn, its website shows.

Avis Budget Group will replace a local car dealership at the Boston Road post.

Isabelle Durso can be reached at idurso@commercialobserver.com.