News: Shopping Centers

General Growth Properties and Thor Equities lease 23,400 s/f retail space to Coach

685 Fifth Avenue - Manhattan, NY 685 Fifth Avenue - Manhattan, NY

Manhattan, NY General Growth Properties, Inc. (GGP), in partnership with Thor Equities, has leased 23,400 s/f of retail space at 685 Fifth Ave. in the Plaza District to Coach and Stuart Weitzman, according to company executives.

Coach will occupy a majority of the first four levels for its new global flagship store, with Stuart Weitzman taking additional space on the ground floor of 685 Fifth Ave.

900 s/f of ground floor space at 685 Fifth Avenue remains available for lease. The retail property owned by GGP and Thor Equities features a total of 150 ft. of wraparound frontage on Fifth Ave. and 54th St.

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What noteworthy transactions or deals from this year best exemplified key market trends or shifts? I would like to say there was an outstanding transaction for me this past year but 2024 was more a culmination of long-term relationships, most of which continued to transact. Deals were smaller in many cases but we saw robust leasing both on the agency side as well as on the tenant side.
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