Local Locker Leases Retail Space in Long Island City for $35/ft

Local Locker signs lease for 5,985 SF retail space in Long Island City.

By skyrealm.ai on Jul 15, 2022
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Local Locker Leases Retail Space in Long Island City for $35/ft

Local Locker, a storage and delivery service, has signed a lease for a 5,985 SF retail space at 21-30 44th Dr. in Long Island City. The space was previously occupied by a restaurant and has been vacant for several months. The asking rent for the space was $35/ft. The lease term is for 10 years.

The landlord, Elias Kougemitros and Scott Shnay, were represented by Ike Bibi, George Skaliarinis, and Mark Gallucci of KSR. The tenant was represented by Eddie Mamiye of Stately Ventures.

Long Island City has been experiencing a surge in development and investment in recent years. The area has become a popular destination for businesses and residents due to its proximity to Manhattan and its growing amenities. The retail space leased by Local Locker is located in a prime location in the heart of Long Island City, with easy access to transportation and a growing number of restaurants, shops, and entertainment options.

The lease deal is a win-win for both the landlord and the tenant. Local Locker gains a prime location to expand its business and serve the growing demand for storage and delivery services in Long Island City. The landlord secures a long-term tenant for a previously vacant space and benefits from the growing demand for retail space in the area.

Overall, the lease deal is a positive sign for the Long Island City commercial real estate market. The area continues to attract businesses and investors, and the demand for retail space remains strong. As the area continues to grow and develop, we can expect to see more lease deals like this in the future.