Ivanhoé Cambridge and Callahan Capital Properties, along with their partner, The Swig Company, announced office lease transactions with Manhattan Beachwear and YKK U.S.A. at 1411 Broadway.
Manhattan Beachwear, the largest manufacturer of swim and active wear in the country, expanded its presence in the building, leasing 12,768 s/f of space.
YKK, the world’s largest manufacturer of zippers and closures, signed a 4,674 s/f lease renewal for its US operations.
“Manhattan Beachwear and YKK U.S.A. are both leaders in their respective industries, and we are very pleased to retain them as valued tenants at 1411 Broadway,ˮ said Brian Robin, senior vice president responsible for asset management in the eastern region at Callahan Capital Properties.
“These renewals, combined with over 32,000 s/f of recently completed new leases, including the 25,261 s/f relocation of Fila U.S.A., Inc. to 1411, reflect the quality and desirability of this premier address in the Bryant Park-Midtown South submarket, not only to fashion tenants but also finance and creative users.”
Bernard Weitzman, senior managing director of Newmark Grubb Knight Frank, represented Manhattan Beachwear in the transaction.
1411 Broadway is currently undergoing a redevelopment of its lobby, entrances and large public plaza. The ownership has made a significant investment towards the physical improvement, energy efficiency and tenant amenities of the building. Among the many upgrades is the recent redesign and redevelopment of the lobby and main entrances – a major capital improvement project that is currently nearing completion.
YKK currently operates in more than 70 countries and has approximately 40,000 employees. The firm, which entered the U.S. market in 1960, has been a tenant at 1411 Broadway since 1999.
Ira Fishman of EVO Real Estate Group represented YKK U.S.A in the lease negotiations, while CBRE’s Paul Amrich, Patrice Meagher, Neil King and Emily Jones acted on behalf of the ownership.
