● cushman & wakefield
C&W starts Century 21 expansion
Cushman & Wakefield represented Century 21 Department Store in a long-term lease at Green Acres Mall, at 2034 West Circle Drive in Valley Stream, NY.
The store is expected to open in fall 2015.
Century 21 Department Store will occupy approximately 72,266 s/f on two levels and will serve as a new department store anchor for Green Acres Mall.
The retailer joins several newly opened and expanded brands at Green Acres Mall, including H&M, Panera Bread, Chipotle, Haagen-Dazs, Justice and Journeys Kidz.
Other major retailers include Macy’s, Sears, JCPenny, Kohl’s, American Eagle, Victoria’s Secret, Express, Forever 21, The Children’s Place and Old Navy.
A Cushman & Wakefield retail team of Gene Spiegelman and Jason Greenstone represented the Century 21 Department Stores in the lease transaction with Macerich, which acquired the Green Acres Mall from Vornado in January 2013.
“This transaction represents the first steps in a strategic expansion strategy for Century 21 that we are excited to be a part of,” said Spiegelman.
Coveted Flatiron space hits market
Eastern Consolidated has been retained as the exclusive leasing agent for a 1,500 s/f luxury retail space at 4 West 19th Street in the Flatiron District.
The ground floor space — located on the southwest corner of Fifth Avenue, two blocks north of the Flatiron Building and two blocks south of Union Square — sits at the base of a 12-story residential building and features 17-foot ceilings.
“It has become increasingly difficult to find boutique, ground-floor space of this size in this highly-sought after neighborhood, and for that reason we anticipate multiple offers within the first week of being on the market,” said James Famularo, senior director of the Retail Leasing Division for Eastern Consolidated, who exclusively represents ownership.
“This is an ideal opportunity for a high-end retailer to quickly obtain a satellite location. It is also a prime offering for couture, sportswear, or any dry-use tenant.”
IRO opens second New York store
RKF has arranged a 1,560 s/f lease with international high-end fashion retailer, IRO, at 241 Columbus Avenue on the Upper West Side.
This will be the second Manhattan store for the French apparel brand.
The transaction was arranged by RKF’s executive vice president Joshua Strauss and associate Taryn Talmadge, who represented IRO, while the building ownership was represented by RKF executive vice president Ariel Schuster and managing director Brandon Eisenman.
IRO – expected to open in September 2015 – will occupy 860 s/f on the ground floor and 700 s/f on the lower level of the.
“The demographics of the Upper West Side and current high-end retail neighbors made this location the perfect fit for IRO’s uptown debut,” said Strauss.
IRO, which opened its first store in Paris in 2006, opened its U.S. flagship store on Broome Street in SoHo in 2013 and has plans to continue expansion in the U.S.
Vale lifted on W’burg retail
Riverside Developers announced a new brand identity and name for its latest 260,000 s/f hotel development in Williamsburg.
Formerly known as “Level Hotel,” the project has been renamed, “The William Vale,” paying tribute to the history of the site.
From architectural firm Albo Liberis, the 21-story hotel’s name is derived from the name of a mid-1800s Brooklynite whose property boundaries encircled the location of the site.
The William Vale will be comprised of 183 rooms, conference and meeting space, ballroom that can hold nearly 300 people and rooftop pool.
In addition, the project brings a 20,000 s/f public green space and 20,000 s/f of retail to market.
“To complement our new name and concept, we’re actively pursuing opportunities to recruit brands that align well with our overall aesthetic and lifestyle,” said a spokesman for the company.
Geoff Bailey at SCG Retail is handling retail leasing.
Retailers headed in right direction
Rose Associates signed a 12-year lease with Spruce & Bond for 1,460 s/f in The Eastmore at 1441 Second Avenue.
Spruce & Bond, a provider of custom wax, laser and brow treatments, is noted for its hi-tech facilities and personal service.
This will be the fifth location for the company, which also operates on Madison Avenue, in NoHo, the Flatiron District, the Upper West Side, and also in Scarsdale, NY.
Bruce Spiegel, senior managing director for Rose, represented the property owner in the transaction.
Spruce & Bond was represented by Jay Gilbert, a director of Newmark Grubb Knight Frank.
Rose also signed an 834 s/f, five-year lease with Quest Diagnostics at The Westmore, at 333 West 57th Street.
Spiegel represented both the property owner and the lessee in the transaction.
Spiegel noted that the space next door to Quest Diagnostic’s new store on West 57th Street is currently available.
This former Radio Shack offers 1,450 s/f of street-level retail with adjoining basement storage space.