MAKING THE CALL
AT&T Wireless is opening a 3,000-square-foot store at a prime Harlem
location, 81 W. 125th St., just off the northeast corner of Lenox
The lease term is 15 years. The asking rent was $80 a square foot.
The location is in a three-story commercial building that also houses
one of the top performers in the Starbucks chain, generating sales of
$1,000 per square foot.
Broker Candice Dobbs
discovered it while searching for a 125th Street location for a food
tenant. Landlord Eugene Fata didn't want additional food providers in
the building, which has a McDonald's as a tenant. So Ms. Dobbs cast about for
another retailer that might need space in the neighborhood and noticed
that AT&T Wireless didn't have a presence there.
She called CB Richard Ellis Inc.'s Pat Breslin, the phone company's
tenant rep. They co-brokered the transaction, which took just two weeks
"It was the fastest deal I've ever done," says Ms. Dobbs, who is
president of Dobbs Associates