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Swiss watchmaker opens first US store.

Crown Retail Services announced the completion of the first US retail lease on behalf of renowned Swiss watchmaker Breitling.

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The maker of fine timepieces will occupy a total of 8,500 s/f on the ground, mezzanine, second and lower levels at 5 East 57th Street, with 24 feet of street frontage.

"5 East 57th Street is an iconic location and the perfect place for Breitling to plant their U.S. flag. With neighbors such as Louis Vuitton, Chanel, Dior and Miu Miu, these opportunities are practically non-existent in this market and there was tremendous competition for the space," said Stephanie L. Snyder, Crown Retail Service's senior director who negotiated the lease on behalf of Breitling.

Snyder added, "We are seeing a tremendous upswing in activity for the city's prime retail locations. Interest from national and international retailers is on the rise as companies are working hard to secure the best positioning for their brands."

Snyder worked closely with CB Richard Ellis senior vice president Annette Healey, who represented Nokia, the former occupants of the space. Terms of the Breitling lease were negotiated directly with the building's ownership, Duell Management.
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Publication:Real Estate Weekly
Date:Jun 16, 2010
Words:192
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