ATCO Properties & Management has signed a 3,378 s/f lease with natural beauty and cosmetics retailer, L’Occitane En Provence, at 555 Fifth Avenue.
Scheduled to open this summer, the new L’Occitane will be located at the base of a 245,000 s/f property, at the southeast corner of East 46th Street.
The new flagship store spans 1,870 s/f on the ground floor, 1,134 s/f on the mezzanine level and 374 s/f on the lower level.
Richard Skulnik and Linsday Zegans of Ripco Real Estate Corp, represented the landlord in the 10-year transaction, while Matthew Seigel of Thor Retail Advisors represented the tenant. Asking rent was $1,100 psf.
“This is Manhattan’s most prominent shopping destination with a mix of the best international luxury brands and the biggest names in fashion,” said Kate Goodman, co-president of ATCO.
“Given our strong corner presence and highly-visible Fifth Avenue address, it’s easy to see why 555 Fifth Avenue was an optimal location for L’Occitane’s new flagship store.”
The new lease for L’Occitane brings the retail portion of 555 Fifth Avenue to 100 percent occupancy. Other retailers at the 20-story, LEED-Silver certified building include Barnes & Noble, as well as Vien Restaurant, which is replacing ‘Wichcraft.