Colliers International has arranged a long-term 20,000-square-foot lease at 309 West 125th Street, with popular electronics and appliance retailer P.C. Richard & Son opening a new store in Harlem location.
Founded in 1909, P.C. Richard is the largest chain of private, family-owned electronics and appliances stores in the United States. The retailer is located in New York, New Jersey, Connecticut, and Pennsylvania, with the majority of its stores located on Long Island, Queens, and Brooklyn. Its newest location is scheduled to open in the first quarter of 2016. The property is owned by Mitchell Enterprises.
“P.C. Richard is one of the most successful retail chains in the New York metro region and a tremendous addition to the 125th Street shopping corridor,” said Eric Meyer, a Senior Managing Director with Colliers International, who along with David Berke, of Cushman & Wakefield, represented the landlord in the transaction. “Harlem is one of the fastest growing neighborhoods in New York City, with incredible demand for trusted, high-quality retailers.”
Meyer also noted that P.C. Richard’s newest location is highly visible and unique because the store stretches a full block, making it the only retail property on the 125th Street corridor with frontage on both 125th Street and 126th Street, providing customer entrances and loading bays on both streets, allowing for maximum access points and ease of use.
Located between St. Nicholas Avenue and Frederick Douglas Boulevard in Central Harlem, 309 West 125th Street is in close proximity to Central Park, multiple bus and subway lines.
P.C. Ricard tenant was represented in-house in the transaction.