CBRE brokers 38,257 s/f 10-year lease for ESPRIT

Manhattan, NY Hudson Square Properties has arranged the 10-year lease for global fashion brand ESPRIT, a 38,257 s/f office on the 11^th and 12^th floors of 160 Varick St. in the Hudson Sq. neighborhood. The space will serve as the headquarters for the brand’s global design, branding, creative, and marketing efforts. The company will occupy its new offices in late 2023.

Neil King, Zac Price, Paul Amrich, Howard Fiddle and Ben Joseph of CBRE led lease negotiations on behalf of Hudson Square Properties. Esprit was represented by Jason Frazier of CBRE.

The new Global Creative Headquarters signals the brand’s return to the U.S., where ESPRIT was originally founded in 1968. The move represents the modernization of ESPRIT’s California-cool roots into a metropolitan brand that is designed, created, and photographed in the city. While the creative headquarters are in New York, the operational headquarters remain in Hong Kong, reinforcing the vision for a global brand known for its innovation and collaboration, and a recommitment to the brand’s key pillars – design, quality, and fit.

“We are thrilled to welcome ESPRIT to our client roster this year,” said Alexis Michael, managing director of Hines. “We have seen a great deal of interest in Hudson Square from fashion companies and the creative class as a whole as these brands seek high quality, authentic spaces to keep their teams inspired. ESPRIT is a key addition to what is becoming a vibrant and dynamic creative community in the neighborhood.”

The official ESPRIT relaunch is set for mid-2023 with a focus on modernizing the brand heritage and values for today’s consumer in a way that resonates across generations. The refreshed ESPRIT embodies an ode to ‘80s and ‘90s nostalgia – luxury apparel with an attainable price point. With a New York City-based global flagship and a Los Angeles flagship set to open this year, customers will be reintroduced to ESPRIT’s signature playful and modern aesthetic, updated for the 21^st century. To bring back the brand’s retail presence, additional flagships are in the works across the U.S. and Canada in the coming year.

“Our intention is for the brand to resonate with a global audience. New York City is the cultural epicenter of the world, a diverse city full of incredible talent. From a creative and design perspective the next evolution of ESPRIT, like New York, will be sleek, aspirational and timeless,” said ESPRIT chief executive officer, William Pak.

160 Varick St. is located in Hudson Sq., between Charlton and Vandam St. and close to the 1, A, C and E subway stations. The building’s structure, large windows and high, loft-like ceilings reflect its industrial history. These features are complemented by a newly renovated lobby, designed by Studios Architecture and opened in the fall of 2018, featuring soft seating and rotating art installations. Tenants of note at 160 Varick St. include Maven Clinic and New York Public Radio.

Hudson Square Properties is a portfolio of 12 office buildings in Hudson Sq. comprising of six million s/f of commercial space. Properties in the joint venture portfolio include 555 Greenwich+345 Hudson St., 75 Varick St., 160 Varick St., 225 Varick St., 155 Ave. of the Americas, and 205 Hudson St., among others.