SL Green Realty Corp and The Moinian Group signed pharmacy CVS Caremark to a new 15-year lease for 21,159 s/f at 3 Columbus Circle.
The retailer will occupy the vacant portion of the ground and a portion of the second floors at the 768,565 s/f office building, formerly known as 1775 Broadway.
Occupying the block between Broadway and Eighth, the 26-story building has been redeveloped by the JV and has a new glass façade, relocated and expanded lobby, new elevators, new bathrooms, electric distribution and extensive HVAC, security and related infrastructure upgrades.
The building’s anchor office tenant is the world headquarters for Young & Rubicam.
“We’re delighted to welcome CVS, a widely-respected national retailer, to 3 Columbus Circle,” said Steven Durels, director of leasing and real property at SL Green, who added that “CVS recognized the building’s unique location, which benefits from close proximity to Columbus Circle, tremendous pedestrian traffic from seven subway lines, nearby construction of three new hotels and some of the world’s most expensive residential condominiums, together with New York’s first soon-to-be-constructed Nordstrom’s.”
Jason Pruger, Newmark Grubb Knight Frank represented CVS in the transaction, while Jeff Winick of Winick Realty Group acted on behalf of the landlord.