ABS Partners announced today that it secured a 10-year, 7,865 s/f lease for TOTO USA at 20 West 22nd Street.
TOTO USA is headquarters for the Americas Division of the TOTO Global Group, which was established in 1917 with the founding of TOTO, Ltd., in Kitakyushu, Japan. TOTO is one of the largest plumbing manufacturers in the world with 5.1 billion dollars in annual sales.
TOTO USA will relocate its New York Gallery and corporate offices from SoHo to the Flatiron District in Summer 2015. The company will occupy 4,276 s/f of showroom space on the ground floor, 1,362 s/f of storage space on the lower level and 2,227 s/f of office and showroom space on an upper level.
TOTO USA was represented in the transaction by Mark Tergesen and Robert Kempner of ABS Partners. The landlord, 20 West 22nd Street Associates, LLC., was also represented by Tergesen and Kempner, as well as ABS Partners’ Jason Fein, Robert Finklestein and Dean Valentino.
“The Flatiron District is the home design capital of the world. Top décor and home improvement brands want to be associated with the destination that award-winning companies like ABC Carpet & Home helped to create. TOTO knew its New York City flagship would thrive in the area, too,” said Tergesen.
“20 West 22nd Street provided TOTO with the Flatiron presence they were looking to establish. Not only was the location ideal, just a few feet from Restoration Hardware, Wolf Home, and Bed, Bath & Beyond, but the building offered a floorplan that allowed TOTO to have a ground-floor showroom, as well as an upper-level corporate office, all under one roof.”
Originally built in 1911, 20 West 22nd Street is a recently upgraded LEED certified 176,000 s/f office building, exclusively leased and managed by ABS Partners.
The building, which boasts dual attended lobbies, four recently upgraded elevators and new windows, is located between Fifth and Sixth Avenues.
TOTO USA is relocating from 25 Mercer Street in SoHo neighborhood of Manhattan where it has served both the residential and commercial sectors.