SOLA Leases 10,000 SF Retail Space To CRGE On Queens Boulevard For 10 Years

The asset involved in the transaction is a retail property located at 72-01 Queens Boulevard in the Woodside market. The asking rent is set at $50 per square foot, with a total area of 10,000 square feet. The lease term agreed upon is 10 years, under a Modified Gross Lease structure.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $50/ft
• Address: 72-01 Queens Boulevard
• Market: Woodside
• Asset Size: 10,000 SF
• Lease Term: 10 Years
• Lease Type: Modified Gross Lease
• Landlord: SOLA
• Tenant: CRGE
• Broker: Aaron Aziz - ARA

The transaction was facilitated by Aaron Aziz from ARA, who represented both the landlord, SOLA, and the tenant, CRGE. CRGE is described as a luxury and exclusive, members-only fitness facility that is in the process of expanding within New York City. ARA enhances leasing opportunities tailored for both owners and tenants in commercial spaces.