Pret A Manger, a British restaurant chain, will open a new location at 237 Park Ave. early next year. The 1,770-sf space will be located on the ground floor of Max Capital Management Corp.'s 21-story tower. Pret's other four New York locations are at 60 Broad St, 287 Madison Ave., 530 Seventh Ave. and 1350 Ave. of the Americas.
Eric Gelber of Insignia ESG's Retail Group arranged the 15-year lease, which has an estimated aggregate value of $3.86 million. According to Gelber, Pret plans an aggressive expansion campaign in the city. "The company owns and manages over 115 shops worldwide and hopes to establish 40 new outlets in New York City in the next three years," Gelber says.
Built in 1981, the 1.42-million-sf building's tenant roster includes Credit Suisse Asset management, J. Walter Thompson, Furman Selz Inc. and E.M. Warburg, Pincus.
In a separate deal, Clearly First, a 6,000-sf, two-story retail boutique at 980 Madison Ave. held its opening reception this week. Details of the lease were not disclosed.
Completed in less than three weeks by IBEX Construction, architect Charles Thanhauser and proprietor Helene Hellsten, the salon-style shop offers a range of items from antiques to edibles.
The store features Swedish-influenced design elements, Venetian plaster walls, a DJ booth and upgrading lighting system that will make the facility a suitable venue for group events.
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