The future Sephora location at 319 Washington St. in Hoboken — Courtesy: Ripco Real Estate
By Joshua Burd
Cosmetics chain Sephora has leased 2,450 square feet for what will be its first store in Hoboken, one of five new retail deals in the city announced this week by Ripco Real Estate.
The retail brokerage said it represented Sephora in the lease at 319 Washington St., which also includes basement space. Ripco’s Alison Horbach handled the assignment on behalf of the firm’s Lyndhurst office, while also brokering the other four deals in the city.
The other transactions are as follow:
- Christies Special Properties leased 3,500 square feet at the former American Apparel space at 80 Hudson St.
- Shaka Bowl leased 1,412 square feet at 110 Washington Ave., a former Blimpie space.
- Wok to Walk leased 1,250 square feet at 91 Washington St.
- Athleta of Gap Inc. leased 2,842 square feet plus basement space at 316 Washington St.
Horbach represented the landlords in the American Apparel and Shaka Bowl deals, while also serving as the tenant broker for the latter. She also represented Wok to Walk and Athleta.
The firm said retailers have become more conservative than ever in making site selections, but pointed to Horbach’s years as a broker in Hoboken.
“It’s about truly understanding the market’s dynamics and conveying that value to the retailers,” Horbach said. “It’s more than knowing that there are upwards of 68,000 people living within a one-mile radius of the city center and that they have average household income of $140,000 per year. It’s understanding how the foot traffic flows and knowing what makes one corner stronger than another from a retail perspective.”
