Fashion retailer Gap Inc. has laid claim to a 20,000-square-foot-space in Industry City, where it will build out a photo studio and a marketing and design shop.
The company, which includes brands Banana Republic, Old Navy, Intermix and Athleta, signed a 10-year lease at Building 4 in the 16-building complex in Sunset Park. Gap Inc. is expected to move in this spring, Women’s Wear Daily reported.
Rents at Industry City range between $15 and $35 per square foot.
Eric Deutsch and Jason Pollen of CBRE represented the Gap, while Industry City’s Jeff Fein and Brett Harvey were the in-house brokers.
Women’s Wear Daily first reported the lease deal, one of the largest ones to date at the complex.
The partnership behind Industry City — which includes Jamestown, Belvedere Capital and others — announced yesterday that Building 19 at the megacomplex would be transformed into a 500,000-square-foot space devoted to technology, media and creative tenants. The developers say they’ve leased more than 2 million square feet of space at the 6 million-square-foot project.
Gap Inc.’s move comes as large fashion brands increasingly target Long Island City to house their in-house design and photo studios. Macy’s and Ralph Lauren signed deals at “The Factory” building in Long Island City in recent months. [WWD] — James Kleimann