Foot Locker will open a new 36,000 s/f store at 8 Times Square and solidify its midtown presence with a 34,000 renewal at 112 West 34th Street.
Himmel + Meringoff and The Swig Company, co-owners of 1460 Broadway, announced that the athletic footwear and apparel company has signed a 15-year lease to occupy the building’s entire four-level retail component which has been designated as 8 Times Square.
The location, will feature a new three-story, 35 ft. high all-glass storefront designed by MdeAS and will include 4,500 s/f of newly constructed LED signage.
Foot Locker plans to open its new store in time for the 2016 holiday season.
“We are delighted that Foot Locker will occupy 100 percent of our multi-level property at 8 Times Square, where it will benefit from around the clock pedestrian traffic and incomparable brand signage,” said Leslie Himmel.
“This lease completes the re-tenanting of both the office and retail components of 1460 Broadway, the 16-story, 215,000 s/f property we acquired in partnership with the Swig Company in late September 2014,” said Stephen Meringoff. “We are fortunate to have found two world-class tenants this quickly.”
CBRE’s Eric Gelber, senior vice president, represented Foot Locker in the transaction, while Farrell Virga, president and Jason Vacker, executive vice president, acted in-house on behalf of ownership.
The announcement comes on the heels of the news in early April that WeWork, the shared workspace provider, signed a 180,00 s/f lease for all of the commercial office space at 1460 Broadway.
Meanwhile Foot Locker also has signed a new retail lease to retain its flagship location at 112 West 34th Street, owned by Empire State Realty Trust.
112 West 34th Street is directly opposite Macy’s where an estimated 100 million pedestrians pass by annually.
Foot Locker will consolidate from three floors into 34,200 s/fon a portion of the ground floor and the entire second floor.
The long-term transaction follows on the heels of ESRT’s major retail lease with Sephora, which recently signed a deal for 11,334 s/f of flagship space in the same building.
Landlord representation was provided by Fred C. Posniak of ESRT along with Joanne Podell and Ian Lerner of Cushman & Wakefield. Rob Martin of JLL represented Foot Locker.