Salons by JC has signed a 15 year lease on the second floor of 127 East 59th Street, CO reported. The lease comes two years after the company opened its first location at 124 West 24th Street. Asking rent on the deal was $75 per square foot.
How it works: Self-employed beauty professionals sign year-long agreements with Salons by JC for between 100 to 160 square feet of space for a salon. The company employs a franchise model, so the lease was officially signed by Barrett Tuttle and Sharurja Raywhich.
Nothing new: Salons by JC opened in 1998 and has 90 franchised locations in the US and Canada. Businesses that maximize profits on leased space have been around for decades.