Backpack and Handbag Company Renews for 19K SF at Fashion Accessories Building [Update]
By Terence Cullen September 2, 2016 5:12 pm
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A manufacturer of children’s backpacks and ladies’ handbags has renewed its headquarters for another five years in Midtown South, Commercial Observer has learned.
Global Design Concepts will remain in its 18,953-square-foot space at the 453,600-square-foot 10 West 33rd Street between Fifth Avenue and Broadway through 2021, according to landlord broker Adams & Co.
The company is currently based on part of the 11th floor, where it has leased space since 2012, CoStar Group indicates. Asking rent in the deal was $55 per square foot, according to the brokerage.
David Levy of Adams & Co. represented the landlord, Ten West Thirty Third Associates, while Keith Caggiano and Gary Davies of CBRE represented the tenant and declined to comment via a spokeswoman.
The building “continues to be a premier location for fashion accessory tenants such as Global Design Concepts,” Levy said in a statement via a spokeswoman. “The spacious showroom layouts are ideal for larger accessory companies that offer a wide range of products. It allows them to showcase everything including backpacks, handbags and even umbrellas in one central location, alongside other like-minded accessory companies.”
The property is home to a slew of similar companies and has garnered the nickname as the Fashion Accessory Building. Last month, United Footwear Group opted to sign an early renewal to remain in its 4,574-square-foot space, as CO previously reported. You and Me Legwear, which makes socks and leggings, in June renewed its 4,619-square-foot lease at the building.
Update: This story was edited to include comment from David Levy.
