Lease Beat

Adidas Opens Soho Special Events Space to Promote New Sneakers

Inside the Adidas special events space.

Adidas, the multinational athletic store featuring footwear and sports gear, has opened a temporary storefront for special events in Soho next to its retail store to promote its new customizable shoe and new phone app, according to Newmark Grubb Knight Frank.

The recently-opened space includes 2,500 square feet at 138 Wooster Street, adjacent to Adidas’ permanent retail store at 136 Wooster Street. Read More

Lease Beat

LaForce + Stevens Signs Lease at 41 East 11th Street

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Marketing and public relations firm LaForce + Stevens has signed a 10-year, 20,000-square-foot lease for the entire sixth floor at 41 East 11th Street, The Commercial Observer has learned from CompStak.

The company will pay rents starting in the mid-$40s per square foot, according to CompStak’s data. The website for the landlord broker, Thomas Campenni, of the Thomas F. Campenni Company, who also manages the property, describes the aggregate value of the lease as $10 million. Read More

Mortgage Observer

Development Projects Abound, But Boroughs Still Under-Retailed

Throggs Neck Shopping Center.

New York City is the number one retail location in the world. Retailers from around the world flock to open flagship stores throughout the Big Apple. Apple’s store on Fifth Avenue, with its familiar cube, has the highest revenue of all Apple stores. Then there are the flagships of Uniqlo, Zara, Tiffany & Co., Bergdorf Goodman and a cast of others. Nevertheless, when you ask prominent owners of commercial real estate as well as local and national retailers, the general consensus is that the outer boroughs of New York City are severely under-retailed.

Eastern Consolidated’s Barbara Byrne Denham reported in May 2012 that retail sales per capita ratios for the outer boroughs were far below the national average. Brooklyn was 39 percent below, Queens was 40 percent below and the Bronx came in a whopping 60 percent below. Read More

Lease Beat

iN DEMAND Renews at 345 Hudson Street

Courtesy of Trinity Real Estate

iN DEMAND has renewed their lease in Hudson Square.

The entertainment company will continue to occupy their 50,000 square foot office in Trinity Real Estate’s 345 Hudson Street. The company is known for being a leader in providing transactional entertainment through television, such as Video on Demand (VOD) and Pay Per View (PPV). Read More

Lease Beat

Adidas Lands at Hudson Square

Adidas will set up a showroom at 435 Hudson Street in Manhattan (photo: oct on Flickr)

International athletic apparel company, Adidas, signed a 10-year, 15,220-square-foot lease at Trinity Real Estate’s 435 Hudson Street. The space will be used by the company’s US-based marketing team as a showroom and event venue.

The asking price was $65 per square foot.

The new location is a relatively short walk from Adidas’ other location at Read More

RECon: Las Vegas

CBRE’s Susan Kurland on American Girl’s Expansion and KidZania’s Invasion

Susan Kurland.

or a broker who counts top-luxury retailers like Jimmy Choo and REI among her eclectic cache of clients, Susan Kurland, an executive vice president for CBRE’s Retail Brokerage Services, hardly considers representing Mattel’s American Girl brand as child’s play. Her work with the highly popular line of 18-inch dolls has garnered her accolades like REBNY’s Most Creative Deal of the Year Award in 2002 for American Girl’s 45,200-square-foot space at 609 Fifth Avenue. Fresh off of working on a deal that brought fashionably square retailer J.C. Penney to the office and retail portions of 200 Lafayette Street (a building owned by Jared Kushner, the owner of The Commercial Observer), Ms. Kurland spoke about her work with American Girl and the imminent arrival of KidZania, an international chain of family entertainment centers. Read More