New York, NY — RKF, a Newmark company (RKF), announced today that it has arranged a 13,266-square-foot lease for CVS Pharmacy at One SoHo Square, 161 Avenue of the Americas, at the intersection of SoHo and Hudson Square, a burgeoning neighborhood that recently welcomed a wave of residential development. The pharmacy is slated to open in the spring of 2019.
Newmark RKF Vice Chairman Ariel Schuster, Vice President Brandon Eisenman and Associate Thomas Cholnoky represented CVS in the transaction. The landlord, Stellar Management, was represented by CBRE Group’s David LaPierre, Kristen Crossman and Gabby Sement.
CVS will occupy 9,900 square feet on the ground floor and 3,366 square feet in the lower level of the newly renovated Class A office building that’s known as One SoHo Square, formerly two pre-war buildings that now comprise a single 283,860-square-foot office complex.
“CVS will be a great addition to Hudson Square, which has more than 53,000 office workers and a residential population of more than 13,000. The pharmacy will find strong traffic from the area’s quickly growing residential and commercial populations,” explained Schuster. “CVS will have a great opportunity to serve the tens of thousands of people that live, visit and work in this vibrant market.”
RKF, a Newmark company (RKF), is one of the leading commercial real estate brokerage firms in the US focused exclusively on retail leasing and investment sales. Serving a broad spectrum of domestic and global clients for more than 20 years in services ranging from national tenant and owner representation to advisory, acquisitions and dispositions, RKF has been responsible for identifying scores of real estate opportunities for leading retailers, restaurants, owners, developers and institutional clients.
RKF is owned by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark Knight Frank’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark Knight Frank’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group, Inc. is a subsidiary of BGC Partners, Inc. (NASDAQ:BGCP), a leading global brokerage company servicing the financial and real estate markets.
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