According to CBRE, Inc., H&M Hennes & Mauritz has leased 57,000 s/f at 589 Fifth Ave. for its new flagship store, one of the largest Midtown retail transactions to date in 2012 and one of the largest H&M stores in the world.
CBRE's Jedd Nero represented the landlord, Western Management, at 589 Fifth Ave. in the real estate deal.
H&M, represented by Robert Gibson and Thomas Citron, of Cushman & Wakefield, is taking the ground through fifth floor, plus a below grade level, at 589 Fifth Ave., in a long-term lease.
"589 Fifth Ave. was one of the few buildings on the avenue with the square footage and ceiling heights capable of handling such a large and complex retail requirement," said Nero.
H&M established its first North American store in 2000, and has 2,600 stores in 44 markets worldwide, with 94,000 employees.
Nero and Gibson have had a long and successful record of representing and attracting major retail tenants along the Fifth Ave. corridor in the 40s and 50s, including Lens Crafters, Kenneth Cole, H&M, Hugo Boss and Best Buy. Tags: