According to Colliers ABR Inc., a leading full service commercial real estate services firm, Express LLC extended its lease for ten years at 477 Madison Ave. The women's clothing store will continue to occupy 9,854 s/f at the northeast corner of 51st St. and Madison Ave.
According to David Hoffman, Jr., executive managing director/principal at Colliers ABR, "The store at 477 Madison Ave. continues to be a solid earner for Express. As part of the lease extension, Express agreed to renovate the store and surrendered a large portion of non-selling basement space for which the landlord is now considering alternative uses."
Shira Nadich Levin, Esq. with Cooley Godward Kronish LLP handled the legal work for the landlord while Hoffman and Wendy Miller, managing director at Colliers ABR negotiated the business deal.
Colliers ABR has consolidated its ownership structure with Colliers Turley Martin Tucker, Colliers Pinkard, and Cassidy & Pinkard Colliers, forming a holding company that is one of the largest commercial real estate service firms in the U.S. In 2008, the consolidated entity completed more than $9.2 billion in worldwide transactions, including over $3.5 billion in capital markets transactions, and managed more than 335 million square feet of real estate. The Corporate Solutions division supports more than 22,000 locations for FORTUNE 1,000 companies. Colliers International is ranked as one of the 2009 World's Top 100 outsourcing service providers by International Association of Outsourcing Professionals, IAOP Top 100. For more information about Colliers International, a worldwide affiliation of independently owned and operated companies, visit www.colliers.com Tags: