New York -- Following a two-year search, Foot Locker has moved one of its Manhattan locations from 541 Broadway to 440 Broadway in SoHo one block north of Canal Street, according to ABS Partners Real Estate.
ABS Partners negotiated a 10-year net lease on behalf of Foot Locker for a 9,000-sq.-ft. two-story building plus a lower level.
“During the prime hours of noon to 6 p.m. each day, more than 40,000 people walk past 440 Broadway,” said Joseph J. Sitt, CEO of Thor Equities, which owns the building.
The new Foot Locker location is in a rapidly developing section of Broadway, said Mark Tergesen, managing director with ABS Partners. “The rising rents and high demand for retail space on Broadway north of Broome has resulted in increased activity further south on Broadway towards Canal Street,” he continued.