CBRE Group, Inc. announced that it represented Fossil Group Inc. in the luxury watch and leather goods seller’s lease extension at 1585 Broadway at 48th Street, Manhattan.
The deal will keep Fossil in 3,241 s/f at 1585 Broadway for another 15 years.
In a separate transaction, Skagen, a subsidiary of Fossil, will take 1,585 s/f to open its new flagship store and its first New York City location. The space offers frontage and visibility on one of Manhattan’s best retail corners.
Amira Yunis, an executive vice president in CBRE’s Retail Services group, represented Fossil in the both transactions.
“Fossil will have the ability to grow its business while retaining its clientele in one of the most active and exciting retail corridors in Manhattan,” said Yunis. “This is an exciting continuing adventure for Fossil and the company is ecstatic to be opening the first Skagen store in New York.”
The store opening marks an important repositioning milestone for Skagen since it was acquired by U.S.-based Fossil Group in 2012.
The new store will celebrate Skagen’s Danish roots with a completely re-imagined environment, the debut of a new, full-line leather collection for men and women, and new jewelry collections that complement the brand’s strong watch collection.