Fashion accessories store BAGGU has leased space to open a Manhattan flagship store in SoHo this summer, Commercial Observer has learned.
The 15-year-old company, known for its $34 Duck Bag, bagged 2,400 square feet at 91 Grand Street between Greene and Mercer streets, according to Sinvin‘s Jane McVerry, who brokered the deal for the landlord. The space spans 1,200 on the ground floor and 1,200 square feet below grade.
“BAGGU has found the perfect home in south SoHo, which represents an eclectic and vibrant mix of co-tenancy ideally suited to the brand,” McVerry said.
The lease for the space — previously occupied by women’s clothing store MM6 Maison Margiela — is for five years with a five-year renewal option, and the asking rent was $300 per square foot, McVerry said.
Along with McVerry, Sinvin’s Sarah Shannon represented the landlord, 91 Grand Street LLC, in the deal. On the tenant side, Peter Weisman of Sinvin worked alongside McVerry.
Shannon noted that the upper floors of the four-story building are vacant and the owner is “in the process of renovating the upper floors, which will be luxury residential units.”
“The landlord was excited to make this deal with BAGGU because it is an established brand with a strong following — their bags are ubiquitous in the city,” Shannon said. “Baggu is a perfect fit for the space and the lower SoHo market … [which] has had a great deal of leasing activity lately and renewed energy now that tourism has bounced back after the omicron surge.”
BAGGU has existing outposts at 242 Wythe Avenue in Williamsburg, Brooklyn, and another in San Francisco.