Tommy John Expands Waist Size in Move Downtown
Terence Cullen March 21, 2016, 4:39 p.m.
Underwear designer Tommy John has inked a full-floor deal to relocate Downtown to 100 Broadway.
The company is taking 17,460 square feet on the 11th floor of the 400,000-square-foot building between Wall and Pine Streets, according to a press release from tenant broker Cushman & Wakefield. Tommy John’s lease is for eight years, and asking rent in the deal was in the $50s per square foot, according to a spokesman for the brokerage.
Tommy John will triple its current office size in the move to Lower Manhattan, according to The Wall Street Journal, which first reported news of the deal. The eight-year-old firm is currently based at 307 Seventh Avenue between West 27th and West 28th Streets in Chelsea, according to the C&W release.
“At Tommy John, we know all about the importance of a good fit; and this new space is a perfect fit for us right now as a company,” Tom Patterson, the founder and chief executive officer of Tommy John, said in prepared remarks. ”Tommy John has grown into a leading men’s undergarment brand and this impressive new location is going to help us grow even larger.”
Alan Wildes and Jonathan Fein of C&W represented the tenant, while Hal Stein, Andy Peretz, Travis Wilson and Courtney Adham of Newmark Grubb Knight Frank represented the landlord, Northwood Investors. The NGKF brokers were not immediately available for comment, per a spokeswoman for the brokerage.
“Northwood was cognizant of Tommy John’s needs and worked closely with us to satisfy the company’s requirements,” Mr. Wildes said in a statement.