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New York

Gucci looking Downtown for a 70K sf office space

Luxury brand sold 685 Fifth to Thor and GGP last year for $460M

685 Fifth Avenue in Midtown and Gucci fashion
685 Fifth Avenue in Midtown and Gucci fashion

Following Gucci’s sale of 685 Fifth Avenue last year to Thor Equities and General Growth Properties, the luxury retailer is looking around for new office space and weighing a possible relocation to Lower Manhattan.

For its new offices, the company is seeking about 70,000 square feet, and is working with Cushman & Wakefield’s Bruce Mosler and Mark Mandell to seek out a new space.

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Gucci sold the office and retail building last year for $460 million, according to the New York Post. It has already moved its retail store to 50,000 square feet in Trump Tower at 721 Fifth Avenue, the New York Post reported.

Gucci is also preparing to open a new retail location in Brookfield Place. [NYP] — Tess Hofmann

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Retail Real Estate