Zara to launch FiDi outpost

TRD NEW YORK /
Jan.January 27, 2014 03:55 PM

Spanish fashion chain Zara has inked a deal for a tri-level space on the corner across from a newly revamped Fulton Transit Center.

The clothier has signed on for a 15-year lease of the 30,000 square feet of space in the office building, which is owned by an L&L Holding Co. affiliate along with Beacon Capital.

As part of the deal, the landlords are revamping a facade that was formerly obstructed by an overhang. The wraparound storefront, which will now be more easily visible to strollers, will stretch over 264 feet. Asking rents were reportedly $500 per square foot on the ground floor, $125 per square foot on the second and $50 per square foot in the basement.

C&W’s Bradley Mendelson and Alan Schmerzler were the landlord’s agents, with L&L leasing director David Berkey also acting for the ownership.

The popular retailer’s move to the Financial District is the latest in a string of high-profile relocations, with Urban Outfitters building a store two blocks from the new Zara outpost and several other high-end tenants inking deals for space in Brookfield Place.

Regarding the choice to stand alone as a flagship rather than join Italian menswear store Ermenegildo Zegna, Burberry and Michael Kors at Brookfield Place, Mendelson told the post that “we believed Zara’s flagship store format would be better suited to a strong Broadway street location, as opposed to the more mall-like environments of Brookfield Place or World Trade Center retail.” [NYP] Julie Strickland


Related Articles

arrow_forward_ios
Blackstone's Jonathan Gray, Gaedeke Group's Sabine Gaedeke Stener and 44 Wall Street (Credit: Stener by Gaedeke Group; Gray by Drew Angerer/Getty Images, 44 Wall Street via Google Maps)

Blackstone sells office tower at 44 Wall Street for $200M

Joe Moinian and 90 Washington Street (Credit: Google Maps, iStock)

Moinian sued for charging market-rate rents despite tax break

Rudin Management's Bill Rudin and 55 Broad Street (Credit: Getty Images and Google Maps)

Charter school inks lease for FiDi office

45 Broad Street and Madison Equities CEO Robert Gladstone (Credit: Getty Images)

Bob Gladstone, Gemdale put FiDi supertall on hold

25 Broad Street and renderings of interior units from Booking.com (Credit: Google Maps and Booking)

LCOR lands rental deal with Booking.com for empty condos

Fosun Property’s Bo Wei, Refinitiv’s David Craig and 28 Liberty Street (Credit: Getty Images, Google Maps)

Fintech firm signs on for massive lease at 28 Liberty

(Credit: iStock)

Sales plunge in FiDi but surge 32% in Battery Park City

180 Maiden Lane with Clarion Partners CEO David Gilbert (red) and MHP Real Estate Services CEO David Sturner (blue) (Credit: Google Maps, Clarion, MHP)

Clarion Partners group lands $372M refi on FiDI tower

arrow_forward_ios
Loading...