June 14, 2022 1:30 PM
Newmark Retail announces it has completed two leases on behalf of the Canadian fashion retailer, Aritzia. The combined footprint of both transactions spans 48,000 square feet across two stores in Manhattan. Newmark Vice Chairman Ariel Schuster and Associate Director Jason Wecker represented Aritzia in both transactions.
The first lease is in Midtown at 608 5th Avenue along the southwest corner of West 49th Street. The space spans just over 33,000 square feet across three levels with over 200 feet of wraparound frontage and was formerly home to Topshop. Ownership, Omnispective, was represented by CBRE Vice Chairman Andrew Goldberg and Senior Vice President Jared Lack.
The second lease is in the Flatiron District at 115 5th Avenue on the southeast corner of East 19th Street. This location combines two stores, one formally occupied by Victoria’s Secret and another currently occupied by Madewell. The space offers approximately 15,000 square feet of retail space over two levels with over 210 feet of wraparound frontage. Ownership, The Winter Organization, was represented by Newmark Vice Chairman Ariel Schuster and Senior Managing Director Jackie Totolo in the transaction.
“The signing of these two deals for Aritzia signifies both their continued commitment to physical retail as well as the strength and importance of Manhattan and the U.S. to the continued success and growth of the brand,” said Schuster. “We believe these additional locations will be an integral part of the retail streetscapes, as was the case with Aritzia’s Soho location at 560 Broadway signed in 2020.”
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of nearly $3.1 billion for the twelve months ending March 31, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 6,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
Aritzia is a design house with an innovative global platform. We are creators and purveyors of Everyday Luxury, home to an extensive portfolio of exclusive brands for every function and individual aesthetic. We’re about good design, quality materials and timeless style — all with the wellbeing of our People and Planet in mind.
Founded in 1984, in Vancouver, Canada, we pride ourselves on creating immersive, and highly personal shopping experiences at aritzia.com and in our 100+ boutiques throughout North America to everyone, everywhere.
Everyday Luxury. To elevate your world.™
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.