Krell of AMPS leads team in 12,000 s/f lease for Patagonia

Brooklyn, NY According to Alvarez & Marsal Property Solutions, (AMPS) the commercial real estate advisory firm has completed a 12,000 s/f agreement on behalf of Patagonia at 70 North 6^th St. in Williamsburg. The new retail location is expected to open to customers later this year and will be the outdoor apparel company’s first store in the borough.

“We are extremely proud to have worked with Patagonia and Asana Partners on this historic expansion into Brooklyn,” said Matthew Krell, managing director of AMPS, who led the team advising Patagonia on this assignment. “Williamsburg’s North 6^th St. is one of the most exciting retail corridors in the country, featuring a mix of national and international retail brands, entertainment venues, restaurants, and up-and-coming small businesses, all in proximity to some of New York City’s most sought after residential developments, office space and hotels.”

70 North 6^th St. is owned by Asana Partners, who purchased the building in late 2019. Originally built in 1920, the location was occupied for many years by Black Bear Bar, a popular motorcycle and skateboard themed bar and music venue, among other businesses. Asana recently completed an extensive renovation of the property, adding new elevators, HVAC and other building systems, while keeping much of the building’s historical character and aesthetics. Nearby retailers include the Music Hall of Williamsburg, Brooklinen, Madewell Men’s, Urban Outfitters, Vans, Everlane, Warby Parker, Le Labo and Marine Layer.

Patagonia will occupy the majority of 70 North 6^th St.’s ground level and all of the second floor.

“Patagonia sets a high bar for customer experience, in part for their hugely popular outdoor gear and apparel, and also because they are very intentional in selecting and designing their physical space to reflect who they are as a company,” said Welch Liles, development director at Asana Partners. “Patagonia is the caliber of retailer we envisioned when working on the redevelopment here, and we appreciate the work by Matthew and his team to make the partnership happen.”

“Asana has done a tremendous job renovating this space to meet the needs of today’s retailers while preserving design and construction features that reflect the building and neighborhood’s historical character,” said Krell. “Finding a space with this sort of attention-to-detail and character was an essential part of the search. At the start of 2021, we began a thorough canvassing of the borough for properties with this level of owner investment and in locations that best serve Patagonia’s customers. Asana’s renovation timeline aligned perfectly with Patagonia’s expansion plans and after connecting the two parties we were able to arrange a long-term agreement that will bring this beloved retailer to Williamsburg.”