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Home shopping retailer signs up for 113,000 s/f.

Adams & Co. Real Estate recently brokered a 14-year, 113,211-square-foot lease for Redcats USA, Inc. at 463 Seventh Ave. Although terms of the lease were undisclosed, asking rents for the space were $33 per square foot.

The deal included the renewal of 96,813 square feet of space on the 17th through 22nd floor, part of the eighth floor, part of the 16th, part of the basement and part of the ground floor for a private elevator lobby and the additional leasing of 16,398 square feet on the 15th and 16th floors. David Levy of Adams & Co. represented both the landlord and the tenant in the transaction.

'"New York's Fashion District is a perfect location for any fashion company because of the community created by many leaders of the fashion industry," said Levy.

"This expansion and long-term renewal certainly reaffirms the success of the Fashion District as a vibrant part of Manhattan"

The space features new elevators and new windows throughout and provides a convenient proximity to many other apparel companies and to perhaps the greatest commuter transportation system in the world.

Redcats USA, Inc. is a catalog and e-commerce retailer of reasonably priced merchandise including plus-sized clothing for men and women, misses clothing and products for the home. The company's extensive portfolio includes popular brands such as Chadwick's, Lerner Catalog, Jessica London, Lane Bryant Catalog, Roaman's, KingSize, BrylaneHome and Le Redoute USA.

Redcats USA is a branch of Redcats, the home shopping division of the French based retailer, PPR. PPR is the among the top 10 retail service companies in the world.

Its formidable retail operations include megastores such as Printemps department store, and a growing roster of prestigious luxury brands, including Gucci, Yves St. Laurent, Alexander McQueen, Stella McCartney, Sergio Rossi shoes, Bedat timepieces and Bottega Veneta leathers.

The retail division is complemented by a highly lucrative home shopping division including 28 catalogs and 40 Web sites.
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Publication:Real Estate Weekly
Date:Nov 16, 2005
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