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Brokerage
Posted: November 28, 2008
Gibson, Citron and Beal of C&W handle 29,600 s/f lease for H&M
According to Cushman & Wakefield (C&W) Retail Services, H&M has leased 29,600 s/f of retail space at 497 Fulton St. from the Laboz Family of United American Land, LLC, in the Fulton St. Mall, for its second area location.
The 15-year lease includes 12,600 s/f on the ground floor and 17,000 s/f on the lower level of the building, located on the Fulton St. Mall between Hoyt and Bridge Sts.
Robert Gibson, Thomas Citron and Molly Beal of C&W Retail Services represented H&M in its site search and in lease negotiations with the building's ownership.
"This is an ideal location for H&M," said Gibson, an executive director. "497 Fulton St. is one of the best corner locations on Fulton St., and it offers H&M great exposure on this high-traffic retail corridor."
"We are proud to bring world renowned retailer H&M to the Fulton St. Mall, Brooklyn's premier shopping destination. H&M's commitment is a testament to Downtown Brooklyn's resurgence," said Albert Laboz, landlord and chairman of the Fulton St. Mall Improvement Association.
This will be one of H&M's first street locations in the boroughs. The apparel retailer's additional borough locations include Kings Plaza in Brooklyn and the Queens Center Mall in Queens.
Cushman & Wakefield is one of the world's largest privately-held commercial real estate services firms. Founded in 1917, it has 221 offices in 58 countries and more than 15,000 employees.  The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies.  It offers a complete range of services within four primary disciplines: Transaction Services, including tenant and landlord representation in office, industrial and retail real estate; Capital Markets, including property sales, investment management, valuation services, investment banking, debt and equity financing; Client Solutions, including integrated real estate strategies for large corporations and property owners, and Consulting Services, including business and real estate consulting.  A recognized leader in global real estate research, the firm publishes a broad array of proprietary reports available on its online Knowledge Center at www.cushmanwakefield.com
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