Lexus will be the next brand to set up an experiential retail outpost in the Meatpacking District.
Union Investment Real Estate GmbH, a German investment firm, acquired a 17,000 s/f space at 412 West 14th Street for the concept “Intersect by Lexus,” a three-story showroom that will include a coffee shop, restaurant, gallery and event space.
The venue will be similar to Cadillac House, a show room and event space on Hudson Street in SoHo. Other premium car brands have adopted the approach elsewhere in the country, including Lincoln, which has experience centers in California and Texas.
Toyota, which owns Lexus, first introduced the Intersect concept in Tokyo in 2015. The Meatpacking location will be its first in the U.S.
Built in during the neighborhood’s industrial heyday in 1900, 412 West 14th Street was renovated last year. Union Investment purchased the building’s retail condo from Premier Equities for an undisclosed price.
“The quality of the location is an excellent fit within Union Investment’s acquisition profile in North America,” Kseniya Merritt, head of Union Investment’s U.S. retail operation, said. “To date, we have invested in retail locations in New York, Philadelphia and San Francisco and our ambition is to continue developing and diversifying our retail portfolio.”