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By our count, Aldo already has four stores on Broadway, but they've just signed a lease for another one further downtown. Commercial Observer reports that the new 6,000 square foot location will be at 181 Broadway in Lower Manhattan, and the going-rate for the rent there is $250 per square foot.
The new store will be conveniently situated near the Fulton Street Transit Hub, which broker Amira Yunis explains was a big reason Aldo picked that spot. "We expect it to be highly trafficked,. The area is changing. With the new Fulton Station a lot of the retail in the area is getting leased and Broadway is turning into a nice looking corridor," she said. No word yet on an opening date, but we do know that Aldo is locked into the location for at least ten years, and that they'll take up three floors of the property, which may all be devoted to selling space. So, that's a ton of shoes.
· Aldo Signs On For 6,000 s/f Downtown [Commercial Observer]
· Madonna Launches Footwear "For the Sexy Woman" [Racked]
· ALDO RISE's Daring New Designer Collabs [Racked]