11 Times Square Gets First Major Retail Tenant

NEW YORK CITY-As retail leasing continues to move westward in the Times Square submarket, GlobeSt.com has confirmed that Global Food International Corporation has signed on for half of the retail space at SJP Properties’ 1.1 million-square-foot spec office tower, 11 Times Square.

The world-cuisine restaurant will take two floors on the ground floor and mezzanine level of the building, amounting to 25,000 square feet total for a 21-year term, according to James Emden, a vice chairman at Colliers International, who represented the tenant on the deal. He tells GlobeSt.com that asking rents went for $500 a square foot – and was one of the most “exciting transactions” in recent years.