Fashion Brand Esprit Opening 38K-SF HQ in Hudson Square
By Celia Young February 10, 2023 12:22 pm
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The fashion brand Esprit will bring its stylings to a new 38,257-square-foot headquarters for its creative and marketing teams at 160 Varick Street.
Esprit stitched together a 10-year lease for part of the 11th floor and the entire 12th floor of the Hudson Square building, according to landlords Trinity Church Wall Street, Norges Bank Investment Management and Hines. The owners declined to disclose the asking rent.
The brand will house 100 to 120 employees for its design, branding, creative and marketing efforts in its New York office when it opens near the end of this year, adding to its existing operational headquarters in Hong Kong, Footwear News reported.
It’s not just new Esprit offices headed to Gotham. The brand opened its first physical store — a 2,500-square-foot Los Angeles pop-up — last year, followed by a New York City pop-up at 123 Prince Street in December. It plans to launch flagships in New York City and L.A. this year, followed by other outposts across the U.S. and Canada in 2024, Footwear News reported.
Esprit plans to expand in the U.S. to help its brand “resonate with a global audience,” William Pak, Esprit’s CEO, said in a statement. And 160 Varick Street was a great fit for the retailer thanks to its location in Hudson Square, said Alexis Michael, a managing director at Hines.
“Esprit is a key addition to what is becoming a vibrant and dynamic creative community in the neighborhood,” Michael said. “We have seen a great deal of interest in Hudson Square from fashion companies and the creative class as a whole as these brands seek high-quality, authentic spaces to keep their teams inspired.”
Other tenants at the 12-story 160 Varick, between Vandam and Charlton streets include New York Public Radio, advertising management firm AdHawk, and the corporate office of women and family health clinic Maven Clinic.
CBRE’s Neil King, Zachary Price, Paul Amrich, Howard Fiddle and Ben Joseph represented the landlords in the deal, while Jason Frazier and Jesse de la Rama, also with CBRE, handled it for Esprit. A representative for CBRE did not immediately respond to a request for comment.
Celia Young can be reached at cyoung@commercialobserver.com.
