August 14, 2023 9:00 AM
Newmark Retail announces the firm has secured a new lease for The Fantastic World of Portuguese Sardine’s first U.S. flagship at Two Times Square in Midtown Manhattan. The brand, operated by Comur Corporation, signed a long-term lease to occupy the space on the Southeast Corner of Broadway and West 48th Street, alongside notable retailers M&M and Krispy Kreme.
Vice Chairman Ariel Schuster, Senior Managing Director Ross Berkowitz and Associate Gabriel Staab of Newmark Retail represented the tenant on the transaction.
“Understanding the nature of the tenant’s business concept, we immediately identified Two Times Square as a prime location for its first U.S. retail presence,” said Staab. “International businesses have demonstrated a strong track record in Times Squares, which has resulted in momentum for lease size and demand within the submarket–a great indication for the area’s overall stability.”
The Portuguese passion for the sea has always been a symbol of its people, which gave rise to The Fantastic World of Portuguese Sardines. As part of an epic tale where ancient knowledge and flavors reunite, the retailer is a one-of-a-kind a souvenir shop showcasing fancy tins of Portuguese sardines in a circus-like atmosphere. With the sardine factory originally founded in 1942, The Fantastic World of Portuguese Sardines brand, formed in 2016, has become a retail case study and international prize winner, as evidenced by the successful operation of 22 stores in Portugal. The location is expected to open in mid-August.
An internationally recognizable symbol of New York, Two Times Square is one of the world’s most iconic buildings and anchors Times Square’s north end. The owner, Sherwood Equities, acquired the asset in 1985, in the early stages of the significant redevelopment of Times Square. The building’s historic signage includes the legendary Coca-Cola sign. It also houses the flagship Renaissance Hotel alongside mainstay retail tenants such as Olive Garden, Lids and Happy Socks, in addition to newly signed Van Leeuwen.
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. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of June 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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