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Deals & Dealmakers

Hanes to consolidate at 260 Mad

HanesBrands, the everyday apparel manufacturer and parent to Hanes, Champion and other brands, signed a 36,293 s/f lease expansion for the entire seventh floor at 260 Madison Avenue.

HanesBrands will consolidate and relocate its offices from 16 East 34th Street to 260 Madison Avenue, where it will occupy a total of 96,398 s/f of space.

The company plans to move into the expansion space in the Fall of 2019.

CBRE’s Peter Turchin, Gregg Rothkin, Brett Shannon, Tim Freydberg and Jared London serve as the exclusive leasing agents 260 Madison Avenue and represented ownership, the Sapir Organization, in the lease negotiations. The asking rent for the space was in the high $60s per square foot.

“HanesBrands wanted to consolidate its New York City employees under one roof, creating a more cohesive workforce. Having long been a tenant at 260 Madison Avenue, when a full-floor space became available after CBRE recently renewed and relocated Solomon Page Group within the building, HanesBrands jumped on the opportunity,” said London of CBRE. “This deal, along with several other new leases and renewals at 260 Madison Avenue and its sister property, 261 Madison Avenue, are a testament to the Sapir Organization’s understanding of and responsiveness to tenants’ operational needs and priorities.”

Alex Sapir of the Sapir Organization added, “We are pleased to announce the expansion and consolidation of HanesBrands Inc. at 260 Madison Avenue for their New York office. We always strive to maintain excellent service and relationships with HanesBrands and all our tenants.”

260 Madison Avenue is a 570,000 s/f building situated between East 38th and East 39th Streets, in close proximity to Bryant Park and to Grand Central Terminal. The property is now 100% leased.

Mitchell Konsker of JLL and Robert Gallucci of Colliers International represented HanesBrands in the deal

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