Foot Locker Runs Into 330 West 34th Street
By Terence Cullen May 18, 2015 4:13 pm
reprints
Foot Locker has been running leases all over the city.
After inking a deal for a mega store at the recently-renovated 8 Times Square, the athletic wear giant is moving its corporate headquarters to 145,000 square feet at 330 West 34th Street. The national retailer is believed to have signed a 15-year lease at the Vornado Realty Trust building between Eighth and Ninth Avenues, according to JLL, which represented Foot Locker.
Vornado has attracted several big leases into 330 West 34th Street in the last few years as it tries to rally interest around Pennsylvania Station. New York & Company, a women’s apparel retailer, signed a lease for 185,000 square feet in February 2014. Six month later, advertising agency Deutsch opted to leave 111 Eighth Avenue between 15th and 16th Streets for the building, taking 74,346 square feet. Yodle, an online marketing company, moved into a 114,000-square-foot space on the top three floors last month.
Foot Locker is taking the second through fourth floors of the building, according to JLL, and asking rents were in the $70s per square foot.
Rob Martin and Christine Tong of JLL represented Foot Locker, as Crain’s New York Business first reported, while Craig Panzirer and Jared Silverman of Vornado represented the landlord in-house.
A Vornado spokesman did not return requests for comment from Commercial Observer.
The corporate offices are leaving nearby 112 West 34th Street between Avenue of the Americas and Seventh Avenue, where the company recently renewed the lease for its flagship store. The New York Post reported the Herald Square location was shrinking down to a foothold of 34,200 square feet. Asking rent for the ground floor was $1,200 per square foot, and the second floor was $250 per square foot.
That was on top of the deal to open another location at 8 Times Square, where landlords Himmel + Meringoff Properties and the Swig Company have revamped the 36,000 square feet of retail space. The Post reported the store—spread amongst three levels—is slated to open during the 2016 holiday season.
