Freddy Martinez Leases Retail Space To Happy Spa & Massage For 5 Years In Jackson Heights

The asset involved in this lease transaction is a retail space located at 79-20 Roosevelt Avenue and 40-02 80th Street in the Jackson Heights & Elmhurst market. The asking rent is $80 per square foot, with a total area of 2,050 square feet. The lease is structured as a Modified Gross Lease with a term of 5 years.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $80/ft
• Lease Term: 5 Years
• Landlord: Freddy Martinez
• Tenant: Happy Spa & Massage
• Landlord's Rep: Itai Khalili & Elliot Setareh - Aineh Property Group
• Tenant's Rep: Brian Ainehsazan - Aineh Property Group
• Square Footage: 2,050

The key individuals in this transaction include Freddy Martinez, the landlord, and Happy Spa & Massage, the tenant, represented by Brian Ainehsazan. Itai Khalili and Elliot Setareh also represented the landlord in this deal. Notably, Happy Spa & Massage has secured two new locations within a month, demonstrating their expansion efforts on Roosevelt Avenue and surrounding areas.