Potbelly Sandwich Shop has leased an 8,397 s/f at W&H Properties' 501 Seventh Avenue for its flagship location according to Anthony Malkin, president of Malkin Holdings, which supervises W&H Properties.
Jeff Roseman, Marc Frankel and Ben Birnbaum of Newmark Knight Frank represented Potbelly in the lease negotiations. Andrew Goldberg, Eric Gelber and Matthew Chmielecki of CB Richard Ellis represented the landlord.
"Retail in the Penn Plaza district is undergoing a transformation," said Malkin. "The district has attracted more and more prestigious office tenants in recent years, and these tenants need local amenities that meet their high standards. Potbelly is a perfect example of supply meeting demand in this instance."
Malkin said, "Meanwhile, W&H Properties has transformed its buildings to attract an ideal mix of top office tenants and top retailers. We are pleased to add Potbelly to the latter group."
Located at West 37th St., steps from Penn Station, 501 Seventh Ave. comprises 18 stories and approximately 500,000 s/f of modern office and showroom space. The building offers convenient access to the Long Island Railroad, New Jersey Transit and Amtrak at Penn Station, Port Authority Terminal, the PATH, 11 subway lines and all major bus lines.
501 Seventh Ave. is the recipient of two prestigious Building Owners & Managers Association New York (BOMA/NY) Pinnacle Awards: Operating Office Building of the Year in 2007 and Renovated Building of the Year in 2006. A $53 million upgrade program that led to the latter included a fully renovated lobby, new elevators and windows, renovated air-conditioned public corridors and restrooms, and upgraded building-wide systems, including state-of-the-art electrical, plumbing, HVAC and security.
Part of the W&H Properties Pre-War Trophy office portfolio, the property is supervised by Malkin Holdings LLC, one of New York City's most financially stable ownerships. W&H Properties is committed to sustainable property operations and development, including energy efficiency, water use reduction, waste and recycling and indoor environmental quality initiatives.
Available space at 501 Seventh Avenue ranges from 1,500-square-foot suites to a full floor of 26,000 square feet.
Broker commissions are paid in full at lease signing.
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06/09/11 Tags: