Lease Beat

Under Armour Signs 20,500-SF Lease for First NYC Store

Under Armour is set to squeeze into its first New York City retail location after signing a 15-year, 20,500-square-foot lease at 583 Broadway in Soho.

Space at the store, which is expected to open next year, is spread between a 7,000-square-foot ground floor, 6,000-square-foot lower level and 7,500-square-foot subbasement.

583 Broadway

583 Broadway

Joshua Strauss and Taryn Talmadge of RKF represented the landlord, Texwood Investment Inc. Kenji Ota of Newmark Grubb Knight Frank represented the tenant. The New York Post reported that the Baltimore-based sportswear company enjoyed a 23 percent sales surge in July.

The retail portion of 583 Broadway was previously occupied by Espirit. Back in June, Under Armour inked a 19,000-square-foot deal at the Starrett-Lehigh Building for its first New York office space.

Brokers from NGKF declined to comment for this story. A representative from RKF could not immediately be reached for comment.

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