NEW YORK CITY-Excelled Sheepskin & Leather Coat Corp., which manufactures and markets licensed collections for Chaps, Columbia Sportswear and other brands, has leased the entire 31st floor of 1400 Broadway from W&H Properties. The firm will move into its new Times Square South space, which comprises 14,785 sf, in January. Its current Manhattan offices are located at 525 Seventh Ave. and 485 Seventh Ave.
A source close to the deal tells GlobeSt.com that they cannot disclose financials of the deal. The source does say, however, that the lease term is 10 years and four months and there is still availability in the building, although they could not specify the amount. Asking rents in the building are between $50 and $60 GlobeSt.com has learned.
“1400 Broadway has long been a destination for major players in the fashion industry, but now that an $81-million capital improvement program has commenced, the property is more appealing to them than ever,” notes Brian Waterman, EVP of Newmark Knight Frank, the property's managing and leasing agent. “The Excelled lease reflects this heightened interest.”
Philip Proetto of Colliers ABR represented Excelled in the lease negotiations. Waterman represented the landlord, along with Michael Frantz of Newmark Knight Frank.
1400 Broadway is a 37-story showroom building containing more than 900,000 sf. The top-to-bottom renovations at 1400 Broadway, scheduled for completion at the end of 2007, include a new lobby designed by Fifield Piaker Elman, with new entrance doors and street canopy; new windows, elevators and bathrooms; air-conditioned public corridors; upgraded building systems, including HVAC; a new lobby security desk with concierge services, an additional security desk at the Broadway entrance and controlled after-hours access.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
