Intuit TurboTax Signs 2.5K-SF Retail Lease at One Willoughby Square

Why It Matters

TurboTax’s entry adds a consumer‑focused brand to a burgeoning retail corridor, boosting foot traffic and reinforcing downtown Brooklyn’s evolution into a mixed‑use tech hub. The deal also validates JEMB Realty’s strategy of attracting best‑in‑class tenants to One Willoughby Square.

Key Takeaways

• TurboTax secures 2,500 sf ground‑floor lease at One Willoughby Square
• Average downtown Brooklyn retail rent is $190 per square foot in 2025
• Lease adds a consumer‑service brand to a tech‑centric office tower
• JEMB Realty’s joint‑venture strategy draws high‑profile tenants
• Location sits alongside CorePower Yoga, Philo and Big Spaceship

Pulse Analysis

Downtown Brooklyn has emerged as a hotbed for premium retail, driven by a surge of office‑tower conversions that place storefronts at street level. The Fulton Street corridor, where One Willoughby Square sits, now averages $190 per square foot in asking rent, reflecting strong demand from both national brands and local concepts. This environment makes the tower an attractive platform for companies seeking high visibility and easy access to a dense, affluent consumer base.

Intuit TurboTax’s decision to open a dedicated retail space signals a shift toward direct‑to‑consumer engagement for financial‑software firms. By positioning a branded kiosk in a high‑traffic area, TurboTax can capture walk‑in customers during tax season, provide in‑person assistance, and reinforce brand trust. The proximity to complementary tenants like CorePower Yoga and Philo creates cross‑traffic opportunities, turning the building into a mini‑ecosystem of lifestyle and tech services that can boost overall footfall.

For JEMB Realty and its partners AVRS and KSR Capital, securing TurboTax adds a marquee name that enhances the building’s tenant mix and marketability. The presence of a well‑known consumer brand can attract additional retailers and elevate lease rates for future spaces. More broadly, the deal illustrates how fintech and other tech‑driven firms are anchoring themselves in mixed‑use developments, a trend that investors watch closely as it signals confidence in urban retail recovery and the long‑term viability of hybrid office‑retail assets.