According to Himmel + Meringoff and The Swig Co., co-owners of 1460 Broadway, Foot Locker, the leading global athletic footwear and apparel company, has signed a 15-year lease to occupy the building's entire 36,000 s/f, four-level retail component which has been designated as 8 Times Sq.
This flagship location, positioned steps from 42nd St., will feature a new three-story, 35-ft. high all glass storefront designed by MdeAS and will include 4,500 s/f of newly constructed LED signage visible from Times Sq. and as far south as Macy's. Foot Locker plans to open its new store in time for the 2016 holiday season.
"We are delighted that Foot Locker will occupy 100% of our multi-level property at 8 Times Sq., where it will benefit from around the clock pedestrian traffic and incomparable brand signage," said Leslie Himmel.
"This lease completes the re-tenanting of both the office and retail components of 1460 Broadway, the 16-story, 215,000 s/f property we acquired in partnership with the Swig Co. in late September 2014," said Stephen Meringoff. "We are fortunate to have found two world-class tenants this quickly."
The lease comes on the heels of the news revealed in early April that WeWork, the growing provider of shared workspace for start-ups and small businesses, signed a 180,000 s/f lease for all of the commercial office space at 1460 Broadway.
"It is testament to the strength of Manhattan's office and retail market in key locations like Times Sq., that this absorption was achieved in only a little more than seven months' time with zero vacancy," said Ken Perry, CEO of the Swig Co.
CBRE's Eric Gelber, senior vice president, represented Foot Locker in the transaction, while Farrell Virga, president and Jason Vacker, executive vice president, acted in-house on behalf of ownership. Tags: