A clothing retailer inked a deal for Hudson Square office space as it readies its return to the United States after 11 years.
Esprit took 38,000 square feet at Hudson Square Properties’ 160 Varick Street. The deal was announced by the landlord, a joint venture between Hines, Trinity Church Wall Street and Norges Bank Investment Management.
The 11th and 12th floors will serve as the fashion brand’s global creative headquarters, including design, branding, creative and marketing departments. Employees are expected to move in later this year.
A representative for Hines declined to share asking rent for the space.
CBRE’s Jason Frazier represented Esprit in lease negotiations. A CBRE team including Neil King and Zac Price represented Hudson Square Properties.
Esprit’s operational headquarters are in Hong Kong and the company also calls Ratingen, Germany home. Despite that, the company was founded 55 years ago in San Francisco, California.
A decade ago, however, the company announced it was closing of all of its retail stores across North America, citing monetary losses. The company has since opened several stores in Canada, but is still charting its return to the United States.
Esprit is set to officially relaunch in the middle of the year. It is planning flagship locations to open in New York and Los Angeles this year and more across the continent to follow. The company operates more than 200 stores across the world and employs around 3,000 people.
Hudson Square Properties reopened 160 Varick Street about five years ago with a newly renovated lobby and other upgrades. Other tenants include the Maven Clinic and New York Public Radio.
Other sites in Hudson Square Properties’ 12-building portfolio include 225 Varick Street, 155 Avenue of the Americas and 205 Hudson Street.
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