Jones Lang LaSalle


B&N books space with Whole Foods

Barnes & Noble is heading downtown to Edward J. Minskoff's new development at 270 Greenwich Ave., at the corner of Warren Street.

The book and music seller has signed a 20-year lease for 38,000 square feet in the L-shaped building.

The Barnes & Noble will open above a Whole Foods grocery store when the building is completed in summer 2007.

"With all the activity downtown, it's just a great neighborhood for Barnes & Noble," says Robert Futterman, chairman of the eponymous real estate brokerage that represented the bookstore in the deal. He says Barnes & Noble chose the location because it offered a single-level site, a rarity in Manhattan's tight retail market.

The 35-story building will feature a gym, a spa, and condos above the retail space.
Mr. Minskoff plans to divide the building's remaining 50,000 square feet of retail space and is negotiating with several national retailers. Industry insiders say that a Bed Bath & Beyond is eyeing one of the spaces. About 5,000 square feet of ground-floor space is available at an asking rent of $200 per square foot.

--Elisabeth Butler