Related looks for high-fashion retailers to reposition Time Warner Center

TRD New York /
Sep.September 19, 2011 08:40 AM

alternate
text
Related Companies CEO Stephen Ross and the Shops at Columbus Circle
To the surprise of early critics, the Shops at Columbus Circle have been a resounding success, and now Related Companies is revamping the mall’s tenants in hopes of boosting profits, Crain’s reported.

Wary of a mall in Manhattan, some high-priced retailers shunned the mall when it launched seven years ago. But now that it has proven successful, Related is pushing some lower-revenue tenants to leave before their 10-year leases expire, in the interest of finding luxury — and higher-paying — tenants. Crain’s said over the next 18 months about a dozen new, mostly high-fashion stores, will come to the mall.

Clothing retailers Sisley, United Colors of Benetton and Face Stockholm have been replaced, and olive oil purveyor O & Co. and a J. Crew men’s store are opening in Their Place. The 25,000-square-foot space that Borders vacated this week will be split into four or five shops. Prudential Douglas Elliman retail chairman Faith Hope Consolo said she is bringing many European fashion clients to the Time Warner Center. That’s because high-fashion tenants in the mall generate $2,000 in revenue per square-foot, compared to the $1,600 Time Warner Center tenants average overall and the $1,200 national average. [Crain’s]


Related Articles

arrow_forward_ios
John Giannone and Jac Credaroli (Credit: iStock)

Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans

Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Jacob Sudhoff and Scott Durkin (Credit: Sudhoff Companies, Emily Assiran, iStock)

Douglas Elliman is coming to Texas

Douglas Elliman is coming to Texas
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)

Related is the latest developer to target the Rockaways

Related is the latest developer to target the Rockaways
Thomas Keller with Bouchon Bakery and TAK Room in Hudson Yards (Taylor Hill/FilmMagic, Bouchon Bakery by David Escalante via Thomas Keller Restaurant Group; TAK Room by John Lamparski/Getty Images for The Conservatory NYC)

Thomas Keller closing TAK Room, Bouchon Bakery at Hudson Yards

Thomas Keller closing TAK Room, Bouchon Bakery at Hudson Yards
Douglas Elliman chairman Howard Lorber (Lorber by Chip Somodevilla/Getty Images; iStock)

Douglas Elliman’s New York revenues fall by half

Douglas Elliman’s New York revenues fall by half
Vornado chairman Steven Roth and Related chairman Stephen Ross (Roth by Misha Friedman/Getty Images; Ross by Mark Brown/Getty Images)

Protesters revisit Steven Roth, Stephen Ross and other NY billionaires

Protesters revisit Steven Roth, Stephen Ross and other NY billionaires
Related's Stephen Ross and Jeff Blau with Hudson Yards (Getty, iStock, Wikipedia Commons)

EB-5 investors to Related Companies: Open your books

EB-5 investors to Related Companies: Open your books
Neiman Marcus at Hudson Yards in New York and Neiman Marcus CEO Geoffroy van Raemdonck (Credit: Neiman Marcus by Noam Galai/Getty Images; van Raemdonck by JOE SCHILDHORN/Patrick McMullan via Getty Images )

Party’s over: Neiman Marcus to close its Hudson Yards location

Party’s over: Neiman Marcus to close its Hudson Yards location
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...