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The Gravity Vault Leases Retail Space In Westbury, Long Island

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LEASED

New York

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Retail30,000 SF
Leased 01/28/2022
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LEASED

The Gravity Vault Leases Retail Space In Westbury, Long Island

1500 Old Country Road, Westbury, New York 11590, United States

See Similar Deals
Retail30,000 SF
Leased 01/28/2022
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Summary

NEW YORK
Asset Type:Retail
Total Square Footage:30,000 SF
Transaction Type:Lease

The retail property located at 1500 Old Country Road in Westbury, Long Island has recently been leased. The property is owned by Lesso Mall Development (Long Island), Dba Samanea NY. The lease transaction was facilitated by Dominic Coluccio, Vice President of Leasing and Development at Lesso Mall Development. The tenant who will occupy the space is The Gravity Vault, an indoor rock climbing gym. The lease deal was negotiated by Colliers International brokers Herb Agin, Matthew Kucker, and Jordan Baruch.

Summary of transaction details:

  • Property Type: Retail
  • Asking Rent: $60/ft.
  • Square Footage: 18,119 SF
  • Transaction Date: 01/28/2022

The Gravity Vault's decision to lease this space highlights the demand for indoor rock climbing gyms in the Westbury, Long Island market. Dominic Coluccio of Lesso Mall Development played a key role in securing this lease agreement for the property located at 1500 Old Country Road. The Colliers International team, represented by Herb Agin, Matthew Kucker, and Jordan Baruch, successfully negotiated the terms of the lease on behalf of their client, The Gravity Vault.

Players

Matthew Kucker
7 deals$35M volume
BROKER

Jordan Baruch
Colliers
7 deals$35M volume
BROKER

Herbert "Herb" Agin
Colliers
2 deals
BROKER

LANDLORD

Details

LEASED
IMAGE: Dominic Coluccio, Matthew Kucker, Jordan Baruch & Herb Agin DATE: 01/28/2022 ADDRESS: 1500 Old Country Road MARKET: Westbury, Long Island ASSET TYPE: Retail LANDLORD: Lesso Mall Development (Long Island), Dba Samanea NY: Dominic Coluccio (@DColuccio), VP Leasing & Development TENANT: The Gravity Vault | Indoor Rocking Climbing Gym BROKERS: Herb Agin, Matthew Kucker (@NewYorkCommercial) & Jordan Baruch (@JKBaruch) - Colliers International ASKING RENT: $60/ft. ~ SF: 18,119

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Deal Type
Effective Rent (Annual)

$1,719,581.90

Total Lease Value

$17,195,818.97

Net Landlord Cash Flow$1,719,581.90