Ann Taylor parent company renews lease at 7 Times Square

Retailer occupies 300K sf in Boston Properties, Norges tower

New York /
Nov.November 02, 2017 04:00 PM

The parent company of fashion retailer Ann Taylor renewed its lease at Boston Properties’ 7 Times Square.

Boston Properties president Doug Linde said during the company’s third-quarter earnings call Thursday said Ann Inc., which also owns the brand Loft, just signed the deal “this week”, the Commercial Observer reported.

Linde didn’t provide much detail on the deal, but CoStar Group shows the tenant occupies roughly 300,000 square feet across three floors in the 47-story tower, according to the CO.

The company signed a 15-year lease to anchor the 1.3 million-square-foot tower between West 41st and West 42nd Streets in 2004. The lease was set to expire in 2020.

Boston Properties executives said they provided Ann Inc. with a free rent period in 2008 as a sweetener to sign a long-term renewal.

Boston Properties owns 7 Times Square with the Norwegian sovereign wealth fund Norges Bank, which paid $684 million in 2013 to acquire a 45 percent stake in the property. [CO] Rich Bockmann


Related Articles

arrow_forward_ios
2544 Valentine Avenue in the Bronx (Photo via Black Bear Capital Partners)

Bronx rent-stabilized multifamily portfolio nabs $186M loan

Bronx rent-stabilized multifamily portfolio nabs $186M loan
CBRE CEO Robert Sulentic (iStock)

CBRE lowers SPAC IPO valuation target to $350M

CBRE lowers SPAC IPO valuation target to $350M
Union Crossing at 825 East 141st Street with LibreMax's Greg Lippmann (Union Crossing Bronx; LibreMax)

$78.6M sub-performing loan on Union Crossing up for sale

$78.6M sub-performing loan on Union Crossing up for sale
The mall was already beset by 18 years of starts and stops (Getty)

Can the American Dream mall survive the pandemic?

Can the American Dream mall survive the pandemic?
Spending outpaced foot traffic because shoppers purchased at the stores they did visit (Getty)

Retail foot traffic tanks on Black Friday

Retail foot traffic tanks on Black Friday
The tax break allows foreign visitors to reclaim a sales tax of 20 percent on items bought in the country for more than £30 (Getty; Unsplash)

UK tax break expiration could hurt struggling retailers

UK tax break expiration could hurt struggling retailers
Istanye Park in Istanbul (Photo via Wikipedia Commons)

Turkish mall valued at $1B in deal with Qatar

Turkish mall valued at $1B in deal with Qatar
258 8th Avenue (Google, Target)

Target planning yet another NYC store in Chelsea

Target planning yet another NYC store in Chelsea
arrow_forward_ios

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

Loading...