NEW YORK CITY—The travel and lifestyle brand Away has signed a 10-year, 56,000 square-foot lease at the HSRC (Heng Sang Realty Corporation) property at 82 Mercer St. The asking rent was $79 per square foot.
The property, situated between Spring and Broome streets has many attributes associated with buildings in SoHo including 15' high exposed ceilings, exposed brick walls and archways, hardwood floors and cast iron columns.
HSRC is renovating the premises, creating a new lobby on the Broadway street side. Away will occupy the entire lower level, part of the second floor and the entire third floor.
The office space at 82 Mercer is now fully occupied, leaving a retail area of approximately 10,000 square feet. Other building tenants include Bath & Body Works and Konrad.
Newmark Knight Frank's president New York tri-state region David Falk, senior managing director Eric Cagner, associate director Jon Franzel, and associate Alex Leopold represented HSRC. Sinvin Real Estate principal Christopher Owles and director of brokerage operations Matthew Girard represented Away.
“We recognized early on that 82 Mercer offered today's creative tenant an A+ location for the quality of life that a company wants for their employees,” says Cagner. He notes HSRC's capital commitment to restore and maintain building features such as the exposed brick wall and high ceilings helped the NKF team to secure a tenant who is a good match for the space.
Crain's reported that Away received $4 million in state tax breaks to relocate–staying in SoHo. The publication noted that the company currently employs more than 150 people and under the Excelsior Jobs Program it agrees to add more than 249 jobs during the next five years.
Away sells luggage with features such as portable technology built into suitcases, which eliminates the need for additional batteries or phone chargers for devices while traveling. The company is vacating their space at 419 Lafayette St., to accommodate its expanding business.
HSRC owns and manages real estate in China and the US. In New York City, the company is known for its properties in Soho, Nolita, Bowery and Midtown.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
