By Sarah Trefethen
Footwear marketers Wolverine World Wide have leased two floors of office space in the Carnegie Hall Tower, according to sources.
The company, whose portfolio includes Merrell, Sperry Top-Sider, Hush Puppies, Keds and Stride Rite, has been subleasing the 15th floor of the tower from Freud Communications, but will now directly lease that floor as well at the 14th, for a total occupancy of 22,000 s/f.
Asking rents were in the mid-$70’s psf.
The 14th floor is currently occupied by three other tenants, but Wolverine will take over the floor within a year.
The 550,000 s/f building is 97 percent leased. Newmark Grubb Knight Frank’s Matt Leon handles leasing for the building along with TF Cornerstone’s Palmer “Chip” Sealy. Chris Mongeluzo, also of NGKF, represented Wolverine in the transaction. The brokers were not available to comment on the transaction.
Michigan-based Wolverine is listed on the New York Stock Exchange, with shares trading at $46.89 Tuesday. Revenue the first quarter of 2013 was a record $645.9 million, representing growth of 100.1 percent versus prior year’s reported revenue.