Lacoste Moving US HQ to 18K SF in Midtown South
By Nicholas Rizzi September 14, 2023 4:12 pm
reprints
French clothing brand Lacoste U.S.A. will move its offices down south on Madison Avenue, Commercial Observer has learned.
Lacoste signed a 10-year lease for 18,364 square feet on the entire 17th floor of 136 Madison Avenue, according to landlord Williams Equities.
A spokesperson for Williams declined to provide the asking rent, but a recent Cushman & Wakefield report found average asking rents in Midtown South were $75.85 per square foot.
The French brand, known for its crocodile logo that became a symbol of preppy snobbery in the late 1970s, has had its U.S. offices 24 blocks north at 551 Madison Avenue for decades and flirted leaving in 2010, but signed on for another 13 years for its 32,000 square feet after it scored a lower rent, as CO previously reported.
This time around, Lacoste decided to jump ship thanks in part to scoring a custom buildout of its new offices supplied by the landlord, according to Williams. Lacoste plans to move in the second quarter of next year.
“Lacoste is an internationally renowned apparel company that wanted a high-end office space with amenities to support its brand and employees,” Colliers (CIGI)’ Mac Roos, who represented the landlord with Andrew Roos, Michael Cohen and Jessica Verdi, said in a statement. “This boutique Madison Avenue building continues to attract leading creative firms drawn to the neighborhood.”
CBRE (CBRE)’s Eric Deutsch, Jared Freede and Anthony Manginelli represented Lacoste along with the brand’s director of real estate Freddie Majid. A spokesperson for CBRE declined to comment.
Lacoste will join Syracuse University, lingerie maker Wacoal, Bernhardt Furniture and coworking provider Regus in the 17-story building between West 31st and West 32nd streets.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
