Kurland of CBRE represents JEMB in 63,000 s/f lease to H&M at Herald Center; Gibson of Cushman & Wakefield represents tenant in 25-year deal

CBRE Group, Inc. has arranged a 63,000 s/f retail lease for H&M in the Herald Center, at the corner of 34th St. and Broadway, Herald Sq., on behalf of the landlord, JEMB Realty. CBRE's Susan Kurland, executive vice president, retail services, represented JEMB Realty in the 25-year lease for H&M. The store will be H&M's largest in the world and is anticipated to open in the fall of 2014. "H&M's newest and greatest commitment to Herald Sq. is the next level in this retail submarket becoming one of the premier shopping destinations in New York City," said Kurland, hired by JEMB Realty to re-tenant the property. "JEMB Realty envisioned a premier retail flagship at Herald Center, creating an unmatched branding opportunity in the heart of Herald Sq." On behalf of JEMB Realty, Bobby Dweck, in conjunction with lease expirations, negotiated a series tenant buyouts to vacate the premises that will soon become home to H&M's newest location. Herald Center is a 10-story, 250,000 s/f retail and office property located at the southwest corner of 34th St. and Broadway. Having negotiated on behalf of H&M for their current two locations on 34th St., Kurland understood the evolving realities of the 34th St. market. She recognized a synergy in the value of JEMB Realty's vision for their Herald Center asset: the corner positioned flagship with unmatched wrap-around signage as a logical next step for the global H&M brand. "When H&M unveils its grand opening, the store's brilliant exposure to the street will lead the rejuvenation of Herald Sq. and its retail outlets," said Kurland, a two-time Real Estate Board of New York Retail Deal of the Year winner, one of which was the 1999 "Deal That Most Significantly Impacts a Neighborhood" award for the 36,000 s/f H&M transaction at 640 Fifth Ave. H&M was represented by Robert Gibson of Cushman & Wakefield.