HanesBrands Takes Another 36K SF at 260 Madison Avenue
Underwear maker Hanes’ parent company, HanesBrands, is consolidating its New York City offices to 260 Madison Avenue, brokers on the deal announced.
HanesBrands inked a 10-year deal to take another 36,293 square feet on the entire seventh floor of the 22-story building between East 38th and East 39th Streets, The New York Post first reported.
The deal brings the apparel manufacturers’ footprint in the building to 96,398 square feet and it will ditch its offices at 16 East 34th Street to move into the new space in the fall, according to CBRE (CBRE), which handled the deal for landlord the Sapir Organization. Asking rents were in the high $60s per square foot.
HanesBrands first signed a lease in 260 Madison Avenue in 2013, a spokeswoman for CBRE said.
“HanesBrands wanted to consolidate its New York City employees under one roof, creating a more cohesive workforce,” CBRE’s Jared London said in a statement. “Having long been a tenant at 260 Madison Avenue, when a full-floor space became available after CBRE recently renewed and relocated Solomon Page Group within the building, HanesBrands jumped on the opportunity.”
London worked on the deal along with colleagues Peter Turchin, Gregg Rothkin, Brett Shannon and Tim Freydberg. Mitchell Konsker of JLL (JLL) and Robert Gallucci of Colliers (CIGI) International represented the tenant. Spokespeople for JLL and Colliers did not respond to requests for comment.
HanesBrands’ expansion brings the 550,000-square-foot 260 Madison Avenue to full occupancy, CBRE said. Other tenants include law firm McLaughlin & Stern, Coca-Cola subsidiary Glaceau and brokerage Marcus & Millichap (MMI).