Radio Shack to Open First South Bronx Store

NEW YORK CITY-Radio Shack will open its first store in the South Bronx in time for this year’s holiday shopping season. The 10-year lease was arranged by Robert K. Futterman & Associates.

The new 2,500-sf store will be located at 949 Southern Blvd. RKF executive vice president David Rosenberg, along with associate director Richard Senior, represented both the tenant and the landlord, 953 Realty Corp., in the transaction. The asking rent for the space was $60 per sf and Rosenberg tells GlobeSt.com that the deal closed “pretty close to that.”

Rosenberg notes that Radio while Radio shack has “a substantial amount of stores in the New York City market,” there are many outer-borough pockets where the retailer would like to establish a presence.”In general, if there’s a market that they can do business in, they’ll look to it as an opportunity,” he says, adding that there are a “handful of leases” under negotiation “in similar types of neighborhoods.”

A recently signed lease for a new store on Court Street in Brooklyn is currently under construction and “one or two” more leases will likely be signed in the outer boroughs by year’s end, Rosenberg adds.