Key Food to open 14K sf shop on the UWS

Grocery store signs lease for 14,000 square feet at 725-733 Amsterdam (Wikipedia, Google Maps, iStock)

Key Food just got the keys to their newest location.

The grocery store chain has signed a lease at 725-733 Amsterdam at the southeast corner of 96th and Amsterdam.

The store will be relocating from its previous location a block away, but nearly doubling in size. The grocer will be occupying 10,000 square feet on the ground floor and 4,000 square feet in the basement.

“They’ve been in the neighborhood for about 25 years now. They love the neighborhood, and they just wanted a larger space,” said Greg Parassio, managing partner at Booth Capital, who represented both the landlord and Key Food in the deal.

Key Food will be paying $100 per square foot for the location and its lease has a base term of 15 years.

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The space will allow the store to provide shoppers with more offerings than some of the chain’s other locations, including a sushi bar.

Key Food will be joining Plant Shed, a high-end florist and cafe, which opened a 2,400-square-foot store in the retail condo.

The supermarket chain was founded in Brooklyn in 1937. Today, its stores are found in several other states, including Connecticut, Massachusetts, New Jersey, Pennsylvania and Florida.

Grocery stores, especially those in residential areas, have seen increased traffic since the onset of the pandemic as shoppers were stuck eating from home.

Nationwide foot traffic to grocery stores in the second quarter of 2021 was up more than 12 percent compared to the previous year, according to analysis from Placer.ai.

Tags: Commercial Real Estate, Retail, supermarket

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