Klinger and Brandes of SCG lease 1,000 s/f to Papyrus

SCG Retail has signed a 1,000 s/f lease for Papyrus at 149 Reade St. between Hudson and Greenwich St. in TriBeCa. The leased was signed in mid-June and Papyrus hopes to open by the end of the summer. Jacqueline Klinger, lead broker for SCG Retail, who represented Papyrus, said, "TriBeCa was a challenge because the rents have risen a lot over the past few years and because most of the buildings are older, the spaces are much larger than Papyrus needed. 149 Reade St. was the perfect size, in great condition, and at a rent that made sense." Based in the Bay Area, Papyrus now has over 450 stores and operates several brands including Papyrus, NIQUEA.D, Carlton Cards Retail and American Greetings Retail. This marks Papyrus's 19th New York City store. The site was previously a Petticoat Lane. Papyrus is taking possession soon. The area also includes a Whole Foods, Sweetgreen, and Christina Lehr. 149 Reade is owned by Ascot Properties NYC, LLC and was represented by Josh Siegelman of Winick Realty. Taryn Brandes of SCG Retail also represented the tenant.