H&M inks 35K sf lease in Jamaica

Fast-fashion retailer takes space at United American Land redevelopment

New York /
Sep.September 21, 2016 10:36 AM

Jamaica is ready to say hello – or, rather, “halloj” – to its newest retailer.

Swedish fast-fashion giant H&M has signed a 35,000-square-foot lease at United American Land’s 150,00-square-foot retail redevelopment on the neighborhood’s main shopping drag, the New York Post reported.

H&M will take part of the first and second floors in the buildings at 160-08,160-16 and 161-02 Jamaica Avenue that United American Land is connecting with one another.

Burlington Coat Factory has already signed a lease for 70,000 square feet on the property’s two upper floors.

UAL had a relationship with H&M after building a home for the retailer’s first Brooklyn store at the company’s development at 505 Fulton Street.

UAL principal Albert Laboz said the deal with the “transformative” retailer “validates the retail power of Jamaica Avenue.”

Bob Gibson of JLL TRData LogoTINY represented H&M, while Ralph Chera of Chera Realty Group negotiated on behalf of UAL. Asking rent was $100 per square foot. H&M is expected to open in the spring of 2018.

H&M last year opened its largest store in the world: a 63,000-square-foot flagship in Herald Square. [NYP]Rich Bockmann


Related Articles

arrow_forward_ios
National chains paid 95% of rent, while mom-and-pop shops paid 89%. (iStock)
August retail rent payments close to 2019 levels
August retail rent payments close to 2019 levels
Thor Equities’ Joe Sitt and 933 Broadway (Thor)
Thor Equities can keep $1.2M deposit on failed 933 Broadway sale: judge
Thor Equities can keep $1.2M deposit on failed 933 Broadway sale: judge
975 Nostrand Avenue in Brooklyn and Hudson Companies president David Kramer (Google Maps, Hudson Companies)
Hudson Companies buys 975 Nostrand Ave project site for $41M
Hudson Companies buys 975 Nostrand Ave project site for $41M
Real estate stocks climbed higher in August despite the end of a national eviction moratorium and uncertainty over how the delta variant would affect retail spending and a return to the office. (iStock)
Real estate stocks dodge obstacles, charge forward in August
Real estate stocks dodge obstacles, charge forward in August
Decentraland
Stranger than fiction: The great digital real estate land grab
Stranger than fiction: The great digital real estate land grab
Sayville Plaza at 5151 Sunrise Highway in Bohemia and Transformco's Scott Carr (Google Maps, Transformco)
Transformco pushes redevelopment of Long Island shopping center
Transformco pushes redevelopment of Long Island shopping center
(Getty)
DIYers are no longer racing for hammer and nail
DIYers are no longer racing for hammer and nail
B6 Real Estate Advisors' Zach Redding, Dylan Kane and 587 Fifth Avenue (B6)
A $36M Midtown listing tests Fifth Avenue’s comeback
A $36M Midtown listing tests Fifth Avenue’s comeback
arrow_forward_ios

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

Loading...