When Invesco Real Estate acquired the building at 130 Prince Street in Soho last year for $140.5 million, the firm hired Cushman & Wakefield to market the property’s retail space.
Currently, two separate retail spaces formerly occupied by Swiss Army and Lacoste boasting a total of more than 8,000 square feet are being marketed across the ground floor and cellar alongside fellow retail tenants Cole Haan and True Religion.
Steven Soutendijk, senior director at Cushman & Wakefield and a member of the leasing team, spoke with The Commercial Observer about how ownership is repositioning the building and how potential retail tenants might utilize the space.
Vornado Realty Trust has reportedly taken control of the ground lease at the landmarked 11-story Swiss Center at 608 Fifth Avenue, where the REIT is marketing 44,440 square feet of retail space across four of its floors.
Vornado took over RFR Realty’s mortgage on the property last March with an $8.5 million payment that RFR owed to another lender and signed the ground lease on the property with the family of the late Sarah Korein, which owns the land under the building, according to the New York Post.
Ted Baker, the high-end clothing retailer, will open a flagship store at 595 Fifth Avenue, it was announced today.
The U.K.-based company signed a long-term net lease for 12,000 square feet at the corner of 48th Street and Fifth Avenue, just down from retail icon Saks Fifth Avenue. Ted Baker will use three of the five floors of the building, which they will rent in its entirety, for retail, while the balance are for office and showroom uses. Just a block from high-profile tenants Michael Kors and LaCoste, the space could command up to $2000 per square foot, sources not affiliated with the deal speculated.
608 Fifth Avenue
Popped colors and lavender pants are already the uniform of choice on upper Fifth Avenue. It seems only fitting that preppy designer Lacoste has chosen 608 Fifth Avenue for its national flagship.
The designer is adding 1,029 square feet to its nearly 9,000-square-foot, ground-floor store in prime territory between 48th Read More