After years of vacancy, 23 Wall St could finally land a retail tenant.
Japanese retail chain Uniqlo is one of three companies negotiating a 100k SF lease at the vacant, six-story building in the Financial District, and it's the leader to land the space, The Real Deal reports.
Prices at the former JPMorgan HQ haven’t been disclosed, but a REBNY report said average ground-floor retail rents in the area hover around $369/SF.
If the rumored 15-year, five-floor lease is signed, it would be the retailer’s first FiDi location. 60k SF would remain for lease.
23 Wall is owned by oil company China Sonangol, which bought the property from Africa Israel in 2008 for $150M and has since showed little interest in the property. Latitude 360 reportedly presented plans to transform the space into an entertainment destination last year, but those fell through when Sonagol’s head of investment was arrested in a corruption probe.
Now estimated to be worth $140M, the 1914 building has been under contract to Jack Terzi’s JTRE Holdings since August. [TRD]
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