New York City — Locally based investment firm Thor Equities Group has sold a 17,600-square-foot retail building located at 164 Fifth Ave. in Manhattan for $40 million. The six-story property, which is located between 21st and 22nd streets in the Flatiron District, was fully leased at the time of sale to tenants such as Alo Yoga and restaurant Sutra. The buyer was not disclosed.
New York City — The Home Depot has signed a long-term, 120,000-square-foot lease to remain at Williams Equities’ 28 & 40 W. 23rd St. location in Manhattan’s Flatiron District. The new lease expires in the mid-2030s. The Atlanta-based home improvement retailer has occupied the ground floor, lower level and mezzanine since 2003. Other tenants at the location include AT&T subsidiary Xandr and Estee Lauder brand Aramis. Michael Cohen, Andrew Roos and Mac Roos of Colliers International Tri-State represented the landlord in the transaction. Peter Ripka of Ripco Real Estate represented …
New York City — JLL has negotiated the $14.1 million sale of a 37,412-square-foot retail building located at 531 86th St. in the Bay Ridge neighborhood of Brooklyn. Stephen Palmese, Ethan Stanton, Michael Mazzara, Winfield Clifford and Brendan Maddigan of JLL represented the seller, Developer’s Realty Corp., in the transaction. A&H Acquisitions Corp. purchased the building, which is leased to Modell’s Sporting Goods.
Melville, N.Y. — A&G Real Estate Partners has negotiated lower costs on 9,550 retail leases in 2020, bringing the company’s success rate to 77 percent. The company reports its success rate for negotiations on behalf of retail tenants is typically 50 percent. The majority of the talks have taken place since March 1, according to the Melville-based advisory firm. Since that time, A&G has secured terminations on 950 leases. The company has achieved nearly $1.7 billion in occupancy cost reductions for 51 retailers, restaurants, educational users, office tenants and fitness and …
Athens, Ga. and New York City — Goldman Sachs Merchant Banking Division has agreed to purchase a “significant stake” in Athens-based Zaxby’s, with plans to grow the quick-service restaurant chain’s footprint into new markets. Terms of the financing were not disclosed, but the deal is expected to close by the end of 2020. Zaxby’s, known for its chicken fingers, wings and signature sauces, has more than 900 locations in 17 states, primarily in the Southeast. Zaxby’s is a privately held company that childhood friends Zach McLeroy and Tony Townley founded …
New York City — B+E has hired Alexandra Aulisi as vice president of marketing. The New York City-based firm specializes in net lease real estate. Aulisi has led numerous award-winning ad campaigns, building and managing brands across a variety of industries, including at American Family Insurance and TDS Telecom. “Alexandra brings 30 years of marketing experience to B+E, including leadership positions at multiple Fortune 500 companies,” says B+E CEO Camille Renshaw. “We are very excited to add her to our team.” Aulisi is a graduate of the Art Institute of …
New York City — The Home Depot Inc. will open a 120,000-square-foot store at 410 E. 61st St. on Manhattan’s Upper East Side, a deal that represents the largest retail lease executed in the borough in the last several years. The company signed a 20-year lease for a four-story space that is currently occupied by Bed Bath & Beyond, which will vacate the space when its lease expires in 2021. Home Depot will relocate its store at 732 Lexington Avenue to the new space some time over the next few …
Westbury, N.Y. — Austin-based Whole Foods Market will open a 57,000-square-foot grocery store at 867 E. Gate Blvd. in the Long Island city of Westbury on Thursday, Nov. 5. The new store will offer a coffee bar with cold brew and iced tea on tap, as well as juice bar with smoothies, a full-service butcher, in-house bakery, prepared foods section and a selection of more than 350 beers. The store will also offer curbside pickup and two-hour delivery for Amazon Prime members in select cities and towns.
Albany, N.Y. — Stuyvesant Plaza has donated $100,000 worth of gift cards to help students at the University of Albany buy basic needs items, professional clothing for job interviews and health and wellness services. The gift cards can be used at retailers within the shopping center, which is situated at 1475 Western Ave., adjacent to the university. Stuyvesant Plaza is home to 18 tenants and was originally built in 1959. “UAlbany students are part of the fabric of the Capital Region and the Stuyvesant Plaza community,” says Edward Swyer, president …
Yonkers, N.Y. — Target will open a 130,000-square-foot store at Cross County Center, a 1.1 million-square-foot retail power center in Yonkers, located north of New York City. Target has signed a 40-year lease to backfill a space formerly occupied by Sears. A partnership between Marx Realty and Benenson Capital Partners owns Cross County Center, which features more than 80 retail and restaurant users. An opening date has not yet been established.
