Clothing retailer Esprit is reducing its U.S. presence in order to focus on sales in Asia following reports that it endured heavy losses in the last few years.
The closing of its New York stores however, will allow its landlords to bring in new retail tenants at increased rents, the New York Post reported, including at its 14,000-square-foot store at 600 Fifth Avenue in Rockefeller Center, at 21 West 34th Street and at 583 Broadway in Soho.
The location at 583 Broadway, between Houston and Prince streets, features 8,000 square feet on the ground floor, 6,500 square feet on the lower level and 7,800 below ground, said Alan Grossman of ARG Realty Consultants, who is marketing the space.
“The infrastructure is in pristine condition,” said Grossman, who is representing Amland LLC, a company owned by an offshore family, declining to specify rents at the building.
At another former Esprit store at 110 Fifth Avenue, Joe Fresh has already moved in, the Post noted. [Post]