Manhattan, NY Newmark Knight Frank (NKF) has negotiated a new, 2,500 s/f lease for jewelry and accessories retailer Kendra Scott at 126 Spring St. in the SoHo neighborhood. NKF senior managing director Matthew Krell represented the tenant. Jordan Barker of Bark Equities represented the landlord.
The new SoHo flagship marks Kendra Scott’s entree into Manhattan after opening 70 locations nationwide. Situated on the Southwest corner of Spring and Greene Sts., 126 Spring St. was previously occupied by Swedish apparel brand J. Lindberg. The lease carries a term of 10 years with options. The retailer is expected to take occupancy of the new space by Q3 2018.
“I am ecstatic to have played an instrumental role in securing Kendra Scott’s first store in New York,” said Krell. “While other submarkets may dwindle in popularity, SoHo will always be sought after by brands who seek that elusive mix of heavy pedestrian traffic, increased brand awareness and tremendous sales potential.”
In 2017, Krell also represented Brett Johnson at 109 Mercer S., Lush Cosmetics in its new Union Square flagship and Upper West Side relocation, and Patagonia in its three newest openings — Portland, OR, Pittsburgh, PA and Ballard, Washington.