Kenneth Cole Leases Back 37K SF in Former HQ
KCP Holdco., Kenneth Cole’s holding company, inked a 10-year deal for 37,169 square feet at 707 Eleventh Avenue.
By Rebecca Baird-Remba March 5, 2020 5:00 pm
reprints
After clothing and accessories retailer Kenneth Cole sold its Far West Side headquarters to SL Green (SLG) Realty Corp. for $90 million in January, the eponymous fashion house has leased a floor back from its new landlord.
KCP Holdco., Kenneth Cole’s holding company, inked a 10-year deal for 37,169 square feet at 707 Eleventh Avenue, according to SL Green. The lease includes office and showroom space in portions of the first floor and basement.
The fashion company has vacated much of the six-story, 173,000-square-foot loft building between West 50th and West 51st Streets, and SL Green is looking to lease up three floors, according to information from CoStar Group.
Woody Heller of Savills USA represented Kenneth Cole, while the landlord’s leasing team, led by executive vice president Steven Durels, handled the transaction in-house.
“Leasing velocity remains strong across all market segments and price points with continued tenant demand in the TAMI [tech, advertising, media and information technology], legal and financial services sectors,” Durels said in a statement.
