Posh Spice is bringing her clothing label to West Chelsea.
Victoria Beckham has inked a lease for 4,500 square feet of retail space on the seventh floor at 511 West 25th Street, which Related Companies purchased at the end of 2011 for $93 million, Crain’s reported. Asking rent on the five-year deal was almost $70 per square foot.
Matthew Bergey and Stuart Siegel of CBRE represented both Beckham and Related in the deal.
Posh will reportedly use the space, atop a 24,000-square-foot second floor spread snagged by Target earlier this year, as both an office and showroom for her fashion label.
“On the heels of signing Target, this deal shows how appealing the building is to tenants who are in creative industries and want to be on the cutting edge in that sector,” Amrich told Crain’s. “Right now, we’re focusing on creating more space at the property because we have a lot of demand.”[Crain’s] — Julie Strickland