Garrick-Aug named agent for 345 West 42nd St. space

Real Estate Weekly, May 28, 2003

The retail leasing team of vice chairman Faith Hope Consolo and managing director Joseph A. Aquino of Garrick-Aug Worldwide, Ltd. has been appointed exclusive agent for one of Manhattan's most desirable store locations: 345 West 42nd St.

Located just steps from Eighth Avenue and opposite Port Authority, the triplex space consists of: approximately 7,600 SF of ground floor space; 6,200 SF of second level space; and an 8,400-SF selling basement. A 100-linear-foot, all-glass storefront and lofty 20-foot ceilings enhance the space.

"The adage 'location is everything' certainly holds true when it comes to retailing," explained Consolo. "The 57 million prospective shoppers that pass through the Port Authority Terminal and the 20 million tourists that visit and shop in the Times Square District annually make 345 West 42nd St. a prime retail address. This space would be ideal for a big-box retailer, restaurant, museum, health club or even a child day care center."

In addition to commuter, tourist and entertainment traffic, the bustling area is fast becoming an office and residential hub. On the southeast corner of Eighth Avenue, the Milstein development is now under construction, as is the new New York Times building, situated directly across from the Terminal. Five high-rise luxury residential buildings have also recently been built, adding to the district's clientele.

"Proximity to Theatre Row, chic restaurants and family venues have turned the Times Square area into an entertainment mecca," commented Aquino. "This is truly a unique opportunity for a retailer looking for a high-impact site."