NEW YORK CITY-International fashion brand Tory Burch is the latest creative tenant expanding its footprint in Lower Manhattan. In addition to its current corporate offices on West 19th Street in the Flatiron District, the company has signed a 10-year, 80,000-square-foot lease at 350 Hudson St., a nine-story, 335,772-square-foot building in the city’s Hudson Square neighborhood, where it will add additional office space, a spokeswoman for property owner Trinity Real Estate confirms to GlobeSt.com.
Tory Burch--who will occupy the entire fifth and sixth floors in the building--will be taking part of the space that HAVAS is leaving to move to its new space in two other Trinity buildings, the spokeswoman says. After the move is complete, there will be a contiguous block of approxiately 100,000 square feet available at 350 Hudson as well as 40,000 square feet that is currently available. This vacancy represents the only large block of space available in Trinity's portfolio currently, she says, in an e-mail to GlobeSt.com.
The deal – arranged by Trinity Real Estate’s president Jason D. Pizer – is a sign of the continuing diversification of the Downtown market. “Hudson Square has become a hub for creative industries and businesses drawn by the dynamic energy and the flexibility and quality of the space,” he says in a statement, noting that the fashion company is a “marquee retail brand” and a “wonderful addition” to the growing community inside the building.
Tory Burch – a luxury designer of sportswear, handbags, jewelry and accessories – will joining other creative, media and nonprofit companies such as 3.1 Phillip Lim, Viacom, Horizon Media, Omnicom, HAVAS, PR Newswire, the Jackie Robinson Foundation, the National Audubon Society, among others. Asking rents were in the mid-$50s per square foot on the deal, according to Trinity.
The building has also become a hub for new retail and restaurant tenants as the workforce in Hudson Square continues to grow. Gourmet chocolatier Jacques Torres, Hale & Hearty Soups and Pret a Manger are also located on the ground floor of 350 Hudson.
Once known as the printing capital of Manhattan, Hudson Square – located between Greenwich Street on the west, Avenue of the Americas on the east, Houston Street on the north and Canal Street on the south – was rezoned in 2008 to allow mixed-use development. Trinity, which owns 40% of the built space in the neighborhood, or about six million square feet, helped transform the industrial district into commercial space for the arts and media industries starting in the early 1990s.
On the deal, Trinity was represented by Marc Packman, director of leasing, and Charles Laginestra, while Tory Burch was represented by Don Preate, executive director, and Jamie Katcher, director of Cushman & Wakefield.
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