News: Shopping Centers

LaPierre and Sjurset of CBRE Retail Services handles three recent leases including 2,600 s/f at 93 Grand St., SoHo

International designer Buckler is bringing its edgy styles to SoHo, opening its second store in the city at 93 Grand St. Acting as exclusive leasing agents for Buckler, the CB Richard Ellis Retail Services (CBRE) team of Stephen Sjurset and David LaPierre arranged a 2,600 s/f retail lease for the retailer. Asking rents in the immediate area range from $100 to $175 per s/f. Set to open later this year, Buckler's multi-level store in the heart of SoHo, offers exceptional visibility for brand recognition and prestige. The menswear label, widely recognized for designs that combine roguish American icons with British edge, plans to carry its entire line of men's products within the multi-level location. Buckler will occupy 1,300 s/f of prime ground floor space as well as 1,300 s/f space on the lower level. The new store will feature a similar design as the designer's flagship U.S. location in the Meatpacking District. In addition to the SoHo store, CBRE is currently targeting potential retail locations in other major metropolitan markets including Los Angeles on behalf of Buckler. "The multi-level space in the trendy SoHo neighborhood offered an incredible branding opportunity for Buckler, as it is situated in one of the city's most vibrant urban shopping destinations recognized as the home for fashion-forward designers from around the world," said Sjurset. "Buckler will have a substantial impact in furthering the trend in SoHo to occupy space in the district's southern section." Magnolia Bakery plans to establish its second location at 200 Columbus Ave. The CB Richard Ellis team of LaPierre and Sjurset arranged the 10-year, 3,000 s/f retail lease at 200 Columbus on behalf of Magnolia Bakery. The building ownership was represented by Mark Price of JW Burke and Company. Situated on the northwest corner of 69th St. and Columbus Ave., the Upper West Side Magnolia Bakery will feature a 400 s/f, enclosed sidewalk café. The bakery will occupy approximately 1,300 s/f of prime, ground-floor retail and 1,300 s/f of below-grade space. Asking rent for the retail space was $400,000 per annum. Trespa New York, LLC, a subsidiary of international developer and manufacturer of designer interior and exterior paneling, Trespa International BV, has signed a long-term lease for 6,500 s/f at 62 Greene St. in SoHo The prime retail space located between Spring and Broome Sts. will serve as the company's New York showroom. Exclusive leasing agents for the retail space, LaPierre and Sjurset represented the building ownership in the lease negotiations. Elizabeth Obloy and Danielle Gubitosa of Studley, Inc. acted on behalf of Trespa. The location consists of 4,500 s/f on prime ground floor space and 2,000 s/f of below-grade space. With 40-ft. frontage on Greene St., the space will serve as the company's showroom and will house a collection of its high-quality paneling used for rain screen cladding and designer interior applications. Trespa plans to move into the new space by December 1.
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2024 Year in Review: William O’Brien, M.C. O’Brien, Inc.

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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