Outdoor apparel chain Patagonia has leased a new 12,000 s/f store in Williamsburg.
Alvarez & Marsal Property Solutions (AMPS) represented Patagonia in the lease at 70 North 6th Street in Williamsburg (pictured top).
The new retail location is expected to open to customers later this year and will be the company’s first store in Brooklyn.
“We are extremely proud to have worked with Patagonia and Asana Partners on this historic expansion into Brooklyn,” said Matthew Krell, Managing Director of AMPS. “Williamsburg’s North 6th Street is one of the most exciting retail corridors in the country, featuring a mix of national and international retail brands, entertainment venues, restaurants, and up-and-coming small businesses, all in proximity to some of New York City’s most sought after residential developments, office space and hotels.”
70 North 6th Street is owned by Asana Partners, who purchased the building in late 2019. Originally built in 1920, the location was occupied for many years by Black Bear Bar, a popular motorcycle and skateboard themed bar and music venue, among other businesses. Asana recently completed an extensive renovation of the property, adding new elevators, HVAC and other building systems, while keeping much of the building’s historical character and aesthetics.
Nearby retailers include the Music Hall of Williamsburg, Brooklinen, Madewell Men’s, Urban Outfitters, Vans, Everlane, Warby Parker, Le Labo and Marine Layer.
Patagonia will occupy the majority of 70 North 6th Street’s ground level and all of the second floor.
“Patagonia sets a high bar for customer experience, in part for their hugely popular outdoor gear and apparel, and also because they are very intentional in selecting and designing their physical space to reflect who they are as a company,” commented Welch Liles, Development Director at Asana Partners.
“Patagonia is the caliber of retailer we envisioned when working on the redevelopment here, and we appreciate the work by Matthew and his team to make the partnership happen.”
Krell, along with Daniel Bodner, Peter Kontos, J.T. Garofolo and Kevin Halm was tapped to launch AMPS as an affiliate of Alvarez Marsal Property Investments (AMPI), a commercial real estate investment firm founded in 2013 by Victor Alvarez, Michael Marsal and Grant Schoenthaler.
The team has been tasked with growing the firm’s various service lines, which include retail and office advisory, property management, project management and data analytics.
“Owners and occupiers require wholistic real estate services that prioritize long-term business strategies,” said Krell. “AMPS enters the marketplace as a new advisory that offers clients access to fully connected services lines, with the dedication and responsiveness of a close-knit team.”