Hearst Tower Has Retail Space on Market

NEW YORK CITY-CB Richard Ellis has been named retail leasing agent for Hearst Tower, located on the southwest corner of Eighth Avenue and 57th Street. The two ground-floor retail opportunities available for lease include 12,210 sf for a single tenant, or to be divided into smaller units and 2,510 sf for a single tenant.

“We have had remarkable interest so far from several retailers–several women’s apparel retailers, a global athletic company, and a high-end cosmetics retailer,” Richard Hodos, EVP of CBRE, tells GlobeSt.com. Hodos is marketing the retail with David LaPierre, SVP, Steve Sjurset, senior associate, and Janelle Rovegno, associate, who will be working with William Shanahan, vice chairman, to bring in new tenants. “The attraction for these retailers,” Hodos says, “is the proximity to Time Warner Center and Columbus Circle–as a transportation hub–as well as the building and the employee population in the building itself.”

He continues that Hearst Corp., which owns and occupies the entire building, has a diverse mix. “Editors from publications as diverse as Good Housekeeping, Esquire, Cosmopolitan, Marie Claire, Smart Money and Popular Mechanics work there,” he says. “The employee population in the building–for the most part–has sophisticated tastes and, not unlike residents of the Upper West Side, have a cosmopolitan style in their daily lives. They tend to be well educated, well read, and media savvy.”