Canadian Retailer Relocates U.S. HQ to Seventh Avenue
Danielle Schlanger Sept. 9, 2014, 6:05 p.m.
Beyond the Rack, a Canadian-based discount designer shopping club, is relocating its U.S. headquarters from the Bryant Park area to 561 Seventh Avenue.
The shopping company signed a 10-year lease early last week for the entire third floor of the property, which includes roughly 3,944 square feet of usable space, and plans to move into its new headquarters this December. The asking rent was $49 per square foot.
The building, located at the northeast corner of West 40th Street and Broadway, is also home to Wasabi, a sushi and bento restaurant serving as its anchor tenant.
Handler Real Estate’s Scott Galin and Richard Farley represented the landlord, while Handler’s Peter Newman and Darrell Handler represented the tenant in the transaction.
With more than 13 million members, Beyond the Rack sells clothing, accessories and home decor at up to 80 percent off the retail price to its members.