Victoria’s Secret Goes Triple-L With Three-Level, 64K-SF Midtown Store
By Liam La Guerre October 7, 2015 6:45 pm
reprints
The secret is out.
Victoria’s Secret will open a massive flagship store at Vornado Realty Trust’s 22-story, 327,000-square-foot building at 640 Fifth Avenue, the landlord announced today.
The women’s lingerie company signed a 16-year lease for nearly 64,000 square feet space in the Fifth Avenue building between West 51st and West 52nd Streets. Victoria’s Secret’s newest location in the city will open in November 2016, a Vornado news release said. It will have three retail levels, including a 9,350-square-foot space on the ground floor. The terms of the lease were not immediately available. A representative for Vornado did not return Commercial Observer’s request for comment.
In 2013, the apparel company signed a three-and-a-half year lease for an additional 60,000 square feet at 2 Herald Square, as CO reported at that time. It currently has more than 100,000 square feet between retail and office space at that location, according to CoStar (CSGP).
A spokesman for L Brands, which owns Victoria’s Secret, Bath & Body Works and Pink, declined to speak about the 640 Fifth Avenue deal.
The new Victoria’s Secret will share the building with Owl Creek Asset Management, an investment advisory firm which signed a lease earlier this year for 17,588, as CO previously reported. Other tenants include HS Management Partners, Hitchwood Capital Management, Greentech Capital Advisors, Exane and Fidelity Investments Real Estate.
Vornado owns a slew of properties on Fifth Avenue including 697-703 Fifth Avenue, 689 Fifth Avenue, 666 Fifth Avenue, 655 Fifth Avenue, 608 Fifth Avenue and 510 Fifth Avenue.
