H&M to Lease 25,000 Square Feet at 505 Fifth Avenue
06/18/2006
06/18/2006
Robert K. Futterman & Associates and CB Richard Ellis arrange transaction for anchor retail tenant
NEW YORK, NY — CB Richard Ellis, the world’s largest commercial real estate services firm, and Robert K. Futterman & Associates, LLC (RKF), the nation’s leading independent real estate firm specializing in retail leasing and investment sales, today announced that international high-fashion retailer Hennes & Mauritz (H&M)will lease 25,000 square feet at 505 Fifth Avenue, on the Northeast corner of 42nd Street.
The retailer, widely recognized for its high-quality and affordable fashions, will occupy 7,564 square feet of retail space on the ground floor, 11,718 square feet on the second floor and 5,066 square feet on the lower level.
The new location, it’s 10th in Manhattan, is scheduled to open in the spring of 2007.
RKF Chairman and CEO Robert Futterman and Senior Managing Director Howard Gilbert represented the landlord, Fifth @ 42nd, LLC in this transaction. The CB Richard Ellis team of Executive Vice Presidents Jedd Nero and Robert Gibson represented H&M.
“505 Fifth Avenue provides H&M with the ideal opportunity to maintain its strategic expansion plans in the New York region,” said Gibson. “The international fashion retailer will fit seamlessly in this highly-trafficked Fifth Avenue neighborhood, where we expect it will continue its proven success in providing fashion and quality at the best price.”
The new retail space, located at the base of a high-tech, Class-A office/retail property at 505 Fifth Avenue, signals a new phase in the Swedish retailer’s expansion.
“H&M will become the new anchor retailer for the area and will boost shopping on this portion of Fifth Avenue,” said Futterman. Gilbert added that “H&M will capture the attention of shoppers coming from the major retail corridors of Times Square, Grand Central Station, and Saks Fifth Avenue/Rockefeller Center and will build on the retail traffic that has been created by existing retail tenants including Banana Republic, Kenneth Cole, Ann Taylor, Sean John, Best Buy and Build-A-Bear Workshop.”
“We've proudly represented H&M in three major transactions in Manhattan in the last year and half,” added Nero.
The country's leading independent real estate firm specializing in retail leasing and investment sales, Robert K. Futterman & Associates LLC (RKF) serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $4 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles and San Francisco.
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NEW YORK, NY — CB Richard Ellis, the world’s largest commercial real estate services firm, and Robert K. Futterman & Associates, LLC (RKF), the nation’s leading independent real estate firm specializing in retail leasing and investment sales, today announced that international high-fashion retailer Hennes & Mauritz (H&M)will lease 25,000 square feet at 505 Fifth Avenue, on the Northeast corner of 42nd Street.
The retailer, widely recognized for its high-quality and affordable fashions, will occupy 7,564 square feet of retail space on the ground floor, 11,718 square feet on the second floor and 5,066 square feet on the lower level.
The new location, it’s 10th in Manhattan, is scheduled to open in the spring of 2007.
RKF Chairman and CEO Robert Futterman and Senior Managing Director Howard Gilbert represented the landlord, Fifth @ 42nd, LLC in this transaction. The CB Richard Ellis team of Executive Vice Presidents Jedd Nero and Robert Gibson represented H&M.
“505 Fifth Avenue provides H&M with the ideal opportunity to maintain its strategic expansion plans in the New York region,” said Gibson. “The international fashion retailer will fit seamlessly in this highly-trafficked Fifth Avenue neighborhood, where we expect it will continue its proven success in providing fashion and quality at the best price.”
The new retail space, located at the base of a high-tech, Class-A office/retail property at 505 Fifth Avenue, signals a new phase in the Swedish retailer’s expansion.
“H&M will become the new anchor retailer for the area and will boost shopping on this portion of Fifth Avenue,” said Futterman. Gilbert added that “H&M will capture the attention of shoppers coming from the major retail corridors of Times Square, Grand Central Station, and Saks Fifth Avenue/Rockefeller Center and will build on the retail traffic that has been created by existing retail tenants including Banana Republic, Kenneth Cole, Ann Taylor, Sean John, Best Buy and Build-A-Bear Workshop.”
“We've proudly represented H&M in three major transactions in Manhattan in the last year and half,” added Nero.
The country's leading independent real estate firm specializing in retail leasing and investment sales, Robert K. Futterman & Associates LLC (RKF) serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $4 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles and San Francisco.
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