Puma Debuts Global Flagship Location in Manhattan
- May 21, 2018
Shortly after inking a full-building retail lease two blocks away, SL Green Realty Corp. has signed a 24,000-square-foot lease with Puma in one of its Midtown Manhattan assets. The sports brand will spread across three floors and will take up all the available retail space, following American Girl’s relocation.
Located at 609 Fifth Ave., the 156,700-square-foot office building is in the heart of the city’s premier shopping district and right across Saks Fifth Avenue and Rockefeller Center. Grand Central Station is a few blocks away, while multiple subway and bus stations facilitate access throughout the entire area. According to Yardi Matrix, the 1925-built asset underwent renovations in 1989. The owner plans to reposition it by relocating the lobby from Fifth Avenue to 49th Street, as well as to upgrade Puma’s store with 160 feet of wraparound frontage featuring high-end double-height storefronts.
“Fifth Avenue will always be the destination for global flagships amongst international retailers,” said SL Green Managing Director Brett Herschenfeld, in a prepared statement. “The retail market in New York City continues to attract the best of both new and established brands.”
Cushman & Wakefield’s Steve Soutendijk, Michael O’Neill, Jason Greenstone, Alan Schmerzler and Sean Moran represented the landlord in the transaction. JLL’s Robert Gibson and Greg Covey acted on behalf of the tenant.
Image courtesy of SL Green