Men’s Wearhouse Renews Forest Hills Lease
Gus Delaporte Jan. 16, 2014, 7:30 a.m.
Muss Development has signed Men’s Wearhouse to a long-term, 6,300-square-foot renewal at 7000 Austin Street in Forest Hills, Queens, The Commercial Observer has learned.
The men’s retailer occupies retail space alongside Starbucks, Barnes & Noble, Eddie Bauer and T.G.I Friday’s at the 78,939-square-foot mixed-use property. Allen Health Care and Bilinguals Inc. both occupy office space in the building.
“Forest Hills is one of the most popular neighborhoods in Queens, and our mixed-use property at 7000 Austin Street continues to attract and retain a diversity of office and retail tenants that serve the community,” said Jason Muss, principal at Muss Development, in a statement.
The property at 7000 Austin Street is located one block south of Queens Boulevard, within walking distance of the E, F, M, and R subways, the Long Island Railroad and express bus service. The surrounding Austin Street neighborhood of Forest Hills has recently welcomed a number of new restaurants, cafes and local businesses.
Stan Markowitz represented Muss in-house in the transaction, while Ripco’s Doug Weinstein represented the tenant.
Houston-based Men’s Wearhouse has dominated financial headlines in recent months over the brand’s takeover battle with rival Jos. A. Bank Clothiers. In November of last year, Jos. A. Bank withdrew its $48 per share offer for Men’s Wearhouse before becoming a takeover target itself. Men’s Wearhouse later submitted a $1.6 billion offer for Jos. A. Bank, valuing the company at $57.50 per share. Jos. A. Bank is expected to respond to the Men’s Wearhouse offer on Friday, according to reports.
Correction: A previous version of this story did not specify that the Men’s Wearhouse lease is a renewal.