Renovation is happening everywhere but I would have never thought of the iconic Times Square. Foot Locker’s redeveloped four-level store of 36,000 square-feet was named “The Most Significant Retail Deal of the Year for 2015”.
The Store is scheduled to open this holiday season. This is the first time a major Times Square retailer has leapt over from 42nd Street to South Times Square. Where Foot Locker now stands, was once called 1460 Broadway. The building went through a $25 million rehabilitation to attract new prospective tenants.
Rent for Foot Locker floor space including the 4,500 square foot L.E.D. exterior signage was $12 million per year though both parties’ final terms were not disclosed. It looks like great changes for retailers and the consumer experience while shopping in Times Square.
“Foot Locker deal lights up Times Square.” Shopping Centers Today Week, Retail Real Estate News. ICSC. N.P. 14 Julye 2016. Web. 04 August 2016.