Meridian Capital Group

Top Leases in December Highlight Diverse Retail Landscape

January 16, 2024

Publication: Other

In a bustling month for the retail sector, December saw a surge in lease agreements across various industries. Notably, a kosher restaurant, a Brazilian steakhouse, and a ramen eatery secured the top spots on the list of last month’s largest retail leases. This diverse mix of establishments reflects the evolving tastes and preferences of consumers.

One of the prominent lease signings was made by Madewell, a clothing brand that consolidated its two Brooklyn stores by signing a 10-year lease for an 8,300 square feet space in Williamsburg. The tenant was represented by Steve Merkle of Newmark, while the landlord, MARK, was represented by Hank O’Donnell and Christopher DeCrosta of GoodSpace.

Another remarkable lease was inked by Barnea Bistro, a kosher restaurant located in Times Square. They secured a 15-year lease for a 7,602 square feet space. James Famularo of Meridian Retail Leasing represented the tenant, while Tom Bow, Rocco Romeo, Matthew Ogle, and Corey Zolcinski of Durst Organization and JLL represented the landlord.

Max Deals, a home goods retailer, also made an impact with a 20-year lease for a 5,800 square feet space in Highbridge. Dov Bleich and Daniel Sharabi of Tri-State Commercial Realty represented both the tenant and the landlord, Skyward Developers.

Fogo de Chão, a well-known Brazilian steakhouse, signed a new lease in the Oculus mall at 3 World Trade Center in the Financial District. The 5,009 square feet space is owned by Unibail-Rodamco-Westfield.

Rounding out the list is Form50, a pilates brand, which expanded its lease to a 5,000 square feet space in Grand Central. The tenant and the landlord, SL Green Realty, were represented by George Skaliarinis of Kassin Sabbagh Realty.

These leases signify the vitality and dynamic nature of the retail industry. As consumers continue to seek unique experiences and a variety of options, businesses across different sectors are adapting to meet these demands. The retail landscape is evolving, and these lease agreements reflect the ongoing transformation and diversification within the market.

Frequently Asked Questions (FAQ)

1. Which retail sectors secured the top leases in December?

In December, the top leases were secured by diverse retail sectors, including a clothing brand, a kosher restaurant, a home goods retailer, a Brazilian steakhouse, a pilates brand, a beauty salon, a gallery, an auction house, a gift and souvenir shop, and a Japanese restaurant.

2. Who represented the tenants and landlords in these lease agreements?

The tenants and landlords were represented by various real estate professionals, including brokers from Newmark, Meridian Retail Leasing, GoodSpace, Durst Organization, JLL, Tri-State Commercial Realty, Kassin Sabbagh Realty, Judson CRE, Lee & Associates NYC, Joseph P Day Realty, eRealty Advisors USA, and GFP Real Estate.

3. What does the variety of lease signings imply about the retail landscape?

The diverse mix of lease signings suggests that the retail landscape is evolving to meet the changing preferences and demands of consumers. Businesses across different sectors are adapting and diversifying to provide unique experiences and a wide range of options. This reflects the dynamic nature of the retail industry.

James Famularo
President of Retail Leasing
Retail Leasing
[email protected]
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