RFK closes Old Navy lease in Flushing.

Robert K. Futterman, CEO of Robert K. Futterman & Associates, LLC (RKF), has reported, a 54,487 square-foot lease on behalf of Old Navy at 136-02 Roosevelt Avenue in downtown Flushing.

Located at the corner of Roosevelt Avenue and Main Street, the Old Navy store will be the retailer's largest in Queens. Futterman and David Rosenberg, managing director, were responsible for closing this transaction.

Old Navy will occupy three floors at this landmark location, which was formerly Woolworth's and had sat vacant, for more than a year. The property is owned by the Estate of Sol Goldman. Old Navy is expected to open in the spring of 2001.

The Roosevelt Avenue and Main Street area. is recognized as one of the busiest shopping districts outside Manhattan. In Manhattan, Old Navy currently operates multi-level locations at 18th Street and 6th Avenue, 34th Street and Broadway, and will open next month at the new Harlem USA complex.

"We are excited to have leased this location and look forward to bringing the energy and excitement of Old Navy to Roosevelt Avenue," said Kevin M. Lonergan, executive vice president and COO of Old Navy.

"The Old Navy lease signals the revitalization of this important retail area, which has lost several large anchors over the last several years," said David Rosenberg of RFK. "While the retail market is incredibly tight, we are particularly pleased to have been able to locate such a large block of prime space on behalf of Old Navy."

RKF is also marketing the former Caldor site located two doors down from the new Old Navy store. Discussions are underway with several major chain store tenants.

RFK has been responsible for several Old Navy and Gap store leases in New York.