Lush Cosmetics is set on expansion mode.
The Canadian-based cosmetics retailer has inked a deal at 783 Lexington Avenue on the Upper East Side. Lush Cosmetics will replace former tenant Jean Louis David in the three-story and 3,500-square-foot retail store.
“The second floor will be dedicated to their first day spa in the United States,” said Joseph Isa, a senior managing director of Winick Realty Group and representative on the transaction. “They have many day spas in their UK locations but this will be their first in the United States.”
Mr. Isa noted that the deal was one of two that were simultaneously signed. The retailer will also be opening another store on the Upper East Side at 208 East 86th Street on Third Avenue.
“Lush is expanding!” said Mr. Isa. “New York City is one of the best markets for them. They are looking for high traffic and high visibility locations that are going to increase their brand presence.”
“We are looking in Grand Central and around the 42nd Street corridor,” he explained. “Of course, I have my eye on a spot on Fifth Avenue near Rockefeller Center too. We’re also looking in the West Village as well.”
Mr. Isa and Lush Cosmetics have built a strong relationship over the past several years. Mr. Isa initially started brokering in Chicago where he first met Lush Cosmetic. He continued to work with them with their expansion in New York when he moved eastward in 2006.
“The area just north of Bloomingdales is growing. It’s fascinating,” he added. “I think it will be a nice mix of tenants a block or two north of Bloomingdales.”
The asking rent for the prominent retail corridor was $545 per square foot.
Peter Braus and Garry Steinberg of Lee & Associates represented the landlord, 783/15 Lex Associates.
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