Verizon makes corporate call.

In a deal which represents its first corporate store in SoHo, Verizon Wireless, whose corporate entity is New York SMSA Limited Partnership, has signed a 4,750 s/f, ten-year lease, to occupy the ground floor of 581 Broadway between Houston and Prince Streets.

The new SoHo flagship is the 12th Verizon Wireless store to establish in Manhattan.

Itzhaki Properties CEO, Erez Itzhaki together with Yair Staav, acted on behalf of the landlord, Lord Shivas Properties LLC, in the transaction, while CBRE's Urban Retail Services duo Robert Gibson and Jedd Nero, both executive vice presidents represented Verizon. Retail rents on that part of Broadway are in the $200 per square foot range.

"SoHo's vibrant residential, business and tourist population will benefit greatly from a Verizon store in the neighborhood," noted Mr. Itzhaki, "and that block of Broadway is a prime thoroughfare, with heavy pedestrian traffic nearly 24/7."

According to Mr. Gibson, "We were pleased to be able to secure such an ideal location for Verizon's new SoHo flagship. The new corporate store will offer a complete line of Verizon products in addition to a full-service repair/sales center."

Warehouse of London formerly occupied the retail store at 581 Broadway.