Gap Relocating Intermix Offices to Herald Square
By Liam La Guerre May 25, 2017 1:23 pm
reprints
Gap Inc. has signed an 80,900-square-foot office lease at 111 West 33rd Street for its female apparel and accessories brand Intermix, according to a news release yesterday from landlord Empire State Realty Trust.
The publicly traded company, famous also for Banana Republic and Old Navy, is moving Intermix’s offices to the entire eighth and ninth floors of the 26-story, 723,883-square-foot building between Seventh Avenue and Avenue of the Americas. The structure is home to ESRT’s headquarters.
“We’ve had a great response from tenant prospects and touring brokers that have seen our new Studios Architecture-designed lobby and elevators at 111 West 33rd Street,” Thomas Durels, executive vice president and director of leasing and operations for ESRT, said in a statement. “Gap Inc. was impressed with the highly efficient side-core floor plates with radiant natural light and 111’s immediate access to mass transit.”
CBRE (CBRE)’s Eric Deutsch and Jared Freede, who represented Gap Inc. in the deal, declined to comment on the transaction via a spokeswoman.
The length of the lease was not immediately clear. The asking rent was $65 per square foot, according to the CBRE spokeswoman.
Intermix will be relocating from nearby 1440 Broadway between West 40th and West 41st Streets, according to The New York Post, which first reported news of the transaction.
Newmark (NMRK) Knight Frank’s Scott Klau, Erik Harris and Neil Rubin brokered the deal on behalf of the landlord alongside ESRT’s Keith Cody in-house. The Newmark brokers did not immediately respond to a request for comment via a spokesman.
