L’Occitane moving flagship down Fifth Ave.

Beauty chain inks 3,378K sf lease at ATCO’s 555 Fifth

TRD New York /
Feb.February 28, 2018 10:45 AM

555 Fifth Avenue

Beauty chain L’Occitane en Provence is moving its Fifth Avenue flagship shop down a few blocks.

The store signed a 3,378-square-foot lease for a flagship store at ATCO Properties’ 555 Fifth Avenue, the New York Post reported.

The building, which sits on the southeast corner of East 46th Street next to Barnes & Noble, had an asking retail rent of $1,100 per square foot.

L’Occitane’s lease is expiring nearby at 610 Fifth Avenue, which is along Rockefeller Center’s Channel Gardens.

Thor Retail’s Matthew Seigel represented the tenant along with his colleague Payal Doshi.

Ripco Real Estate’s Andrew Mandell, Richard Skulnik and Lindsay Zegans represented the landlord.

L’Occitane plans to open the store this summer. It will span three levels with 1,870 square feet on the ground floor, 1,134 square feet on the mezzanine level and 374 square feet on the lower level.

Asking rents on the stretch of lower Fifth Avenue between 42nd and 49th streets averaged $1,048 a square foot during the fourth quarter of last year, down 10 percent from a year earlier, according to CBRE. [NYP] Rich Bockmann

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