Adidas inks deal for new flagship store on Fifth Avenue

Asking rent for 34K-square-foot space is $1,000 per square foot

TRD New York /
Dec.December 22, 2015 05:45 PM

Adidas has inked a 15-year lease for a 34,000-square-foot ground-floor space on Fifth Avenue.

The sports brand giant will open up a new flagship store in Stawski Partners’ office building at 565 Fifth Avenue, the New York Observer reported.

The asking price for the space was $1,000 per square foot. The average asking rent on this stretch of Fifth Avenue is $1,244 per square foot, according to Cushman & Wakefield’s latest retail market report.

Just three blocks away — between 49th and 60th streets — the average asking rent jumps to $3,080 per square foot. RKF’s Jeremy Ezra represented Adidas, and Stawski handled the deal in-house.

The space, which is almost double the size of the brand’s store at 610 Broadway, was previously occupied by Build-a-Bear Workshop. The other tenant, Redken, is in the process of relocating to 404 Fifth Avenue.  Adidas is expected to open its new store in late 2016. [NYO]Kathryn Brenzel

Related Article


Fifth Avenue takes another hit: Tommy Hilfiger is leaving its flagship

By the numbers: Fifth Avenue’s pricey retail rents have prompted luxury retailers to flee the tony stretch

Thor Equities is in a very precarious position at 597 Fifth

Versace joins slew of retailers leaving
Fifth Avenue

Gap to close Fifth Avenue location next year

Manhattan’s turbulent leasing market, Brooklyn’s bubble and more of the biggest trends in CRE right now