Everywhere a Sign
H&M is prepping to emblazon its logo atop Durst Organization‘s 4 Times Square, The Wall Street Journal reported.
The ad, to be completed later this year, will accompany the 42,500-square-foot H&M store that will open at the 48-story tower’s base, where it signed a lease for a new store and the rooftop signage in October.
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Some commercial real estate brokers are “kicking and screaming” about the audacity of some city landlords who they claim are disregarding their “exclusives” with retailers by attempting to land tenants on their own.
The idea of “skipping the middle man,” once thought of as a tool for efficiency, is enraging some brokers, who tell The Commercial Observer that large retail owners including Joe Sitt, Jeff Sutton and Joe Moinian, are steering out of their way – but digging deep under their skin.
“Totally not kosher,” one perturbed president of a top city brokerage wrote in an email to The Commercial Observer. “It puts the retail brokers in a difficult spot and it is morally incorrect.”
Swedish fashion retailer H&M will be taking the entire 42,510-square-foot Times Square space that was previously the home to the ESPN Zone.
By moving into 4 Times Square, the fashion chain becomes the latest in a line of affordable clothing retailers that are willing to brave high rents for a Times Square storefront, H&M was represented by Bob Gibson of Cushman & Wakefield. Amira Yunis, Gary Trock, and Matthew Krell, all of CBRE, represented the Durst Organization, the owners of 4 Times Square.