Global commercial real estate advisory firm Newmark is pleased to announce that it has executed a lease for growing Vancouver-based menswear retailer Indochino to bring one of its new showrooms to 343 Greenwich Avenue in Greenwich, CT. Newmark’s James Ritman, executive vice president and managing director, and Janey Steinmetz, associate director, represented the building owner, RLB Holdings, LLC in securing this lease.
The Newmark team arranged for Indochino, represented by Bialow Real Estate’s Corey Bialow and Andrew Jaffe, to lease 1,700 SF of retail space in the three-story, 4,700 SF boutique building. The space, formerly occupied by upscale-casual womenswear store Splendid, will open as an Indochino showroom this May.
“The Avenue has a reputation for being one of the Nation’s best known shopping streets, where high-end retail tenants historically attract luxury shoppers, both locally and from afar,” said Ritman. “This building sits on one of the heaviest foot-traffic blocks of Greenwich Avenue, making it a particularly desirable location for a nationally expanding retailer like Indoctrination. Greenwich Avenue will see increased lease activity in the coming years, as retailers transitioning from digital-only to omnichannel continue to seek out brick-and-mortar space from which they can better serve their existing customers in the area, and acquire and attract new ones.”
Indochino, which began as an e-commerce made-to-measure menswear brand in 2007, has since evolved into an onmichannel retailer that operates showrooms across the nation. Showrooms are smaller-scale stores that offer customers the in-person experience of creating a personalized garment or wardrobe. The company’s Greenwich location is one of six showrooms Indochino will open in the Northeast this year.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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