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Retail and Office Leasing Roundup 8.31.20

Office leasing roundup 

  • FTI Consulting has signed an office lease for more than 120,000 square feet at Edward Minskoff’s 1166 Sixth Avenue. The deal carries a term of 15 years and the space had an asking rent in the $80s per square foot. (TRD)
  • Private school BASIS Independent has signed a 62,000 square-foot lease at Acadia Realty Trust and Washington Square Partners’ 445 Albee Square West in the City Point complex. (NYPost)
  • A pair of Swig Equities-owned companies, Helmsley Spear and affiliated construction firm Falcon Pacific Construction, have inked a four-year, 15,775-square-foot sublease from Lincoln Financial at 444 Madison Avenue. Lincoln has moved to 299 Park Avenue. (CO)

Retail leasing roundup 

  • The Lego Store is expanding to a two-story flagship at Rockefeller Center, replacing high street brand AllSaints at the base of Tishman Speyer’s 45 Rockefeller Plaza. The company closed on a 10,000-square-foot lease in June, and filed permits to begin renovating the space (estimated to cost $1.9 million) earlier this month. The British retailer AllSaints began an insolvency procedure in June to protect its store portfolio and its proposal to move its 83 stores in the U.S. and UK to a percentage rent structure was approved by creditors in July. (CO)
  • Target will take up about 29,000 square feet at the base of Xinyuan Real Estate’s + Kuafu Properties’ condo project at 615 10th Avenue. The retail giant signed the lease in 2016 and was set to move in last year. Now, the new store is scheduled to open at the end of 2020. (TRD)

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