T.J Maxx shows up in Soho

Retailer last year did a deal with landlords Aurora Capital and Adjmi family in Harlem

Dec.December 04, 2017 08:30 AM

483 Broadway in Soho

Discount retailer T.J. Maxx signed an 18,000-square-foot lease in Soho at Aurora Capital Associates and the Adjmi family’s 483 Broadway.

The company signed a 15-year deal with an asking rent of $400 per square foot on 9,000 square feet on the ground floor, and $100 per square foot on the same amount of space below grade, the Commercial Observer reported.

Richard Skulnik of Ripco Real Estate represented TJX Companies, the parent of T.J. Maxx, in the deal. The landlords paid $150 million in 2010 to purchase a 49-year master lease covering 40,000 square feet from the basement through the second floor of the five-story building between Broome and Grand streets.

T.J. Maxx earlier last year signed a lease in Harlem with Aurora and the Adjmis at their 5 West 125th Street development, which is also home to Bed Bath & Beyond and WeWork.

In October, The Real Deal tallied retail spaces sitting vacant in more than $940 million worth of retail-focused acquisitions made in Soho over the last six years. [CO]Rich Bockmann

Related Articles

Judge Janet DiFiore and Judge Rowan Wilson (Credit: iStock, New York State Courts)

High court decision has tenants stewing, landlords oohing

Sharif El-Gamal (Photo by Desiree Navarro/WireImage)

WATCH: Developer Sharif El-Gamal has Covid-19. But he’s one of the lucky ones

Knotel CEO Amol Sarva 

Another huge round of layoffs for Knotel

Miki Naftali, Steven Witkoff and Ryan Freedman

TRD Talks: How developers are contending with coronavirus

Governor Andrew Cuomo (Photo by Spencer Platt/Getty Images; iStock)

Cuomo’s foreclosure, mortgage moratorium has no teeth

From left: Realogy's Ryan Schneider, Cushman & Wakefield's Brett White and Newmark Knight Frank's Barry Gosin (Credit: iStock)

Brokerage stocks plunge amid market turmoil

Mayor Bill de Blasio halted ULURP, stalling projects like 960 Franklin Avenue, Rikers Island and Industry City 

These projects could be held up by New York’s rezoning freeze

Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

LA mayor orders a moratorium on commercial evictions