Lee & Associates NYC announced that it has completed 35,800 square feet of new retail leases across the Bronx. The transactions include 21,400 square feet at 4075-4077 Boston Rd.; 9,500 square feet at 537 East 138th St. and 4,900 square feet at 410 East 189th St.
Avis Budget Group (Budget Truck LLC), signed a 21,400-square-foot, 20-year lease at 4075-4077 Boston Rd., which includes a 16,000-square-foot lot. Lee & Associates NYC’s Steve Lorenzo and Garry Steinberg represented the tenant, Avis. Ariel Castellanos and Federico Mazzeo from Pinnacle Realty represented the landlord, 4077 Boston Road LLC.
Mott Haven Discount signed a 9,500-square-foot, 15-year lease at 537 East 138th St. in Mott Haven in a space previously occupied by Rite Aid. This will be the tenant’s first location in the Bronx, following two locations in Queens. Lorenzo represented the owner of Mott Haven Discount, Yingle Cai, and Ezra Saff of Retail Zone represented the landlord, Louis Reichardt Holdings LLC.
IHOP signed a 4,900-square-foot, 20-year lease at 410 East 189th St. in Fordham. Lorenzo and Jeff Lopez from Lee & Associates NYC represented both the tenant, IHOP, and the landlord, 410 E 189th LLC in the transaction.
“We have seen a significant increase in retail leasing velocity across the Bronx,” said Lorenzo, a principal at Lee & Associates NYC. “Our team has a deep history working in various submarkets throughout the borough and we are excited to witness its continued growth. These three leases highlight the Bronx’s success in the retail sector, a trend we anticipate will continue throughout 2025.”
