Victor of Lansco secures lease for lululemon: Asking rent $400 per s/f

Lululemon athletica, a yoga-inspired athletic apparel company, has secured five prime retail locations in the New York metropolitan area in one year, according to The Lansco Corp. executive vice president Alan Victor.Victor negotiated several of the leases on behalf of the retailer. Victor represented lululemon in a lease for 3,400 s/f of prime retail space at 15 Union Square West in the former Tiffany & Co. and Amalgamated Bank building where the asking rent was $400 per s/f. The retail location, which is expected to open by early 2009, will be the fourth area retail store for lululemon. "Not many athletic apparel companies have come close to the level of quality and functional design offered by lululemon since it entered the U.S. market seven years ago," said Victor. "The Union Square store will allow lululemon to tap into the young and upscale neighborhood, which offers various opportunities for health conscious individuals, including yoga studios, Whole Foods, and the Union Square Greenmarket." According to Victor, the retailer has stores at 1928 Broadway on the Upper West Side,1127 Third Ave. on the Upper East Side and 481 Broadway in Soho. Victor also represented lululemon in its lease for 5,825 s/f of space at 151 Greenwich Ave. in Greenwich, Conn., where the asking rent was $160 per s/f, and in its triple net lease for 3,652 s/f on the Miracle Mile in The Mall in Manhasset, where the asking rent was $160 per s/f. lululemon athletica is a yoga-inspired athletic apparel company that creates components for people to live longer, healthier and more fun lives. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback. Founded in Vancouver, British Columbia in 1998, lululemon athletica is extending into new communities across North America and throughout the world. The Lansco Corp., founded in 1965, is a New York-based full service real estate firm providing strategic advisory, sales and leasing services to the commercial office and retail marketplace. The firm represents national and international tenants, as well as major developers and landlords. Through partnerships with CORFAC International and XTEAM, Lansco is active throughout the United States and in over 80 international markets worldwide. Over its rich history, The Lansco Corp. has become a trusted partner and expert advisor to its local, national, and international clients.