New York, NY REBNY named Foot Locker’s 36,000 s/f, four-level flagship store at the newly redeveloped 8 Times Sq. the “Most Significant Retail Deal of the Year” (2015) and recognized Eric Gelber, executive vice president of CBRE for his extraordinary efforts.
The Foot Locker lease emerged as the winner among 13 competing entries submitted by the city’s top real estate professionals all vying for the honor.
“We are thrilled that REBNY recognized this deal and all of Eric Gelber’s hard work. Eric and Jason Vacker, along with the Foot Locker team, worked collaboratively and tirelessly to bring the deal to fruition, and in the process re-drew the boundaries of Times Sq.,” said partners Stephen Meringoff and Leslie Himmel who, with their co-owners The Swig Co. of San Francisco, own the building, which is also known as 1460 Broadway.
“The flagship Foot Locker superstore, scheduled to open this holiday season, signified an important milestone, marking the first time a major Times Sq. retailer crossed over 42nd St. to Times Sq. South. The move redrew the boundaries of the submarket and helped forge the connection between Herald Sq. and Times Sq.,” said Meringoff and Himmel.
Gelber said, “My involvement with this building and this deal goes back several years, starting when we negotiated termination options with the previous tenants, and culminating with Foot Locker lease. I have been very fortunate during my career to work with some of the most talented people in our industry. This is the second time I have worked with the Himmel + Meringoff team and on both transactions REBNY bestowed deal of the year honors upon us. Both examples of great collaboration and execution.”
“We had closely studied this stretch of Broadway and knew that as we reimagined, redeveloped and re-branded this property it could be a game-changer for the market and for the right retailer,” said Vacker, “Eric was an ally from the start and shared our vision for what this property could be for Foot Locker and he worked with us tirelessly to make it happen. Eric and I often joked, as marathon runners, that this deal took a similar level of intensity and perseverance.”
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