Industry Intelligence

Fairway Market will open its first store on the Upper East Side of Manhattan in fall 2011. The company arranged a long-term lease through New York-based real estate firm Robert K. Futterman & Associates (RKF) for the 45,263-square-foot site at 240 East 86th Street, between Second and Third Avenues, at the base of The Ventura, a luxury rental apartment building. Ventura in Manhattan Inc. is the landlord of the property. The location will be the Fairway’s eighth in the New York metropolitan area, as a seventh store is opening this November in Stamford, Conn.

Previously occupied by Barnes & Noble and Circuit City, the store will feature 13,650 square feet on the ground floor, 16,000 square feet on the basement level, 4,463 square feet on the sub-basement level and 11,150 square feet in the mezzanine.

“This densely populated neighborhood prompted an increased demand for a market and proved to be the ideal location for Fairway,” said RKF chairman and CEO Robert K. Futterman. “This will be the only market of its kind in the heart of the Upper East Side, and Fairway joins a growing roster of prominent retail brands that continue to improve the bustling retail corridor along East 86th Street.”

Among the nearby retailers are AT&T, H&M, Banana Republic, Sephora and Barnes & Noble.