Fashion retailer signs Herald Square lease

Spanish fashion retailer Mango is opening its second New York location at 7 West 34th Street this fall, DNAinfo reported. Although a spokesperson declined to comment on an exact opening date, staff at the store’s Soho location said it will probably be in early September.

Mango is just one in a string of upscale retail tenants coming to the area, DNAinfo reported. Japanese clothing store Uniqlo is set to open its third New York store on the stretch and Levi’s and Timberland footwear store just opened in May.

As The Real Deal previously reported, the new stores are a boost for the landlords on 34th Street, who have seen an increase in rental rates and property values. There are 11 landlords on the block between Fifth and Sixth avenues who rent to approximately 30 retailers. Top owners are SL Green Realty and JEMB Realty, which own the two large properties, at the western edge of the street.

Tricia Lewis, director of digital media at the 34th Street Partnership, told DNAinfo the past three years have seen a significant shift in the standard of stores seeking space at Herald Square.

“It’s changing,” Lewis said. “We were really getting lots and lots of junior stores, but now with Uniqlo and Mango, it’s a step up.” [DNAinfo]