Manhattan, NY Cushman & Wakefield arranged a 5,000 s/f retail lease for WeWearAustralian at 69 Mercer St., marking the international retailer’s debut in the U.S. The unique concept serves as a department store exclusive to Australian brands.
A Cushman & Wakefield team of senior director Ian Lerner, Ed Nelson and Alan Wildes represented the tenant, WeWearAustralian. The landlord is PEP Real Estate.
“We are thrilled to have secured this exceptional SoHo location for WeWearAustralian’s U.S. launch,” said Lerner. “This deal introduces a distinctive and innovative retail concept to one of New York City’s most dynamic shopping districts. WeWearAustralian provides a unique platform for Australian brands seeking to enter the U.S. market, and 69 Mercer St. offers an ideal setting to showcase these brands to a global audience.”
The space at 69 Mercer St. includes 2,500 s/f on the ground floor and 2,500 s/f on the lower level.
The building is situated in a block between Spring and Broome Sts., surrounded by boutiques, galleries, and restaurants.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,