Adams & Co. brokers 9,000 s/f deal.
Although terms of the lease were undisclosed, asking rents for the space are $32 per square foot.
Pico Manufacturing Sales Corp. will be moving from the Empire State Building to its new space in the 22-story, 408,511 s/f building in the Fashion District.
Adams & Co. recently brokered similar large-scale leases in the popular Outerwear Center for leather specialist Winlit Group Ltd., Herman Kay Company and Henry Doneger Associates, the largest independent fashion buyer and merchandising consulting firm in the industry. The Outerwear Center--which recently underwent major capital improvements--houses leading outerwear tenants.
They include Forcaster of Boston Utex Corp., Perry Ellis outerwear, Alorna Coat, Herman Kay/Bromley, Gallery and many others. David Levy, of Adams & Co., represented the landlord in the transaction. Chris Mongeluzo, of Newmark & Co. Real Estate,
LLC, represented the tenant.
"The Outerwear Center carries in-demand space, with a 99 percent occupancy rate," Levy said. "This lease also serves as further evidence of the appeal of specialty buildings in the Fashion District, which carry 95 percent occupancy rates."
There are no plans to rename the building the Underwear Center, a spokesman said.
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|Publication:||Real Estate Weekly|
|Article Type:||Brief Article|
|Date:||Sep 15, 2004|
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