Newmark Retail has completed a 4,700 s/f lease for baby and toddler product retailer Lalo at 0 Bond Street in NoHo.
Senior managing director Jackie Totolo and associate director Jordyn Comras represented Lalo in the transaction. Newmark vice chairman Ariel Schuster and director Michael Paster represented the landlord, Bond Immobilien LP.
Lalo, a name derived from the acronym for Love All Little Ones, Inc., offers baby and toddler furniture, play products and feeding accessories. The 0 Bond Street store, which is the company’s first physical retail location, offers appointments with product experts as well as music and play classes for babies and parents in partnership with Union Square Play.
“We were thrilled to work with Lalo in the opening of its first retail store,” said Totolo. “NoHo will be an ideal location for the store’s upscale but approachable product offerings.”
Schuster added, “With significant frontage on Broadway and Bond Street, 0 Bond offers prominent visibility for the brand and it will be an excellent addition to the building and the neighborhood.”
0 Bond Street, also known as 670 Broadway, is a five-story office building with ground-floor retail. Lalo leased a 4,700 s/f space—formerly occupied by Bandier — that features 65 ft. of frontage on Bond Street and 25 ft. on Broadway. N
According to Newmark Research, the Manhattan retail market saw increasing activity during the third quarter of 2021, driven by mobility improvements, rent corrections, and flexibility in lease structures.
Year-to-date leasing through October 2021 totaled 1.58 million square feet, on pace to exceed 2020’s leasing totals. Among tenants who entered the market with active requirements since the pandemic, 74.1 percent did so during 2021.
Trade areas with a high proportion of residents have improved faster than those that depend on office populations and tourism.