SL Green Signs PUMA to Global Retail Flagship at 609 Fifth Avenue
NEW YORK--(BUSINESS WIRE)--May 17, 2018--SL Green Realty Corp. (NYSE: SLG), New York City’s largest office landlord, today announced that it has signed a long term, 24,000-square-foot retail lease at 609 Fifth Avenue with sports brand PUMA. Located on the corner of Fifth Avenue and 49th Street opposite Saks Fifth Avenue, the property sits at the heart of Manhattan’s most recognized shopping corridor.
SL Green recently embarked on a redevelopment of the property, which includes a relocation of the existing office lobby from Fifth Avenue to 49th Street. PUMA will benefit from the redevelopment, as the three-level retail flagship will feature state-of-the-art double-height storefronts across 160 feet of wraparound frontage.
“We are incredibly proud to open the first PUMA Brand Store for North America at this iconic location on one of the most prestigious streets in the world. For the past several years PUMA has been focused on becoming the fastest sports brand in the world and we feel now is the perfect time to show the world who we are. We are very pleased to begin our partnership with SL Green at 609 Fifth Avenue, and we are going to build an engaging brand experience that we will all be very proud of” said Bjørn Gulden, CEO of PUMA.
“Fifth Avenue will always be the destination for global flagships amongst international retailers,” said Brett Herschenfeld, Managing Director at SL Green. “We are proud to establish this relationship with PUMA, and look forward to ensuring that this distinguished corner continues to thrive as a destination. The retail market in New York City continues to attract the best of both new and established brands.”
SL Green was represented in this transaction by Steve Soutendijk, Michael O’Neill, Jason Greenstone, Alan Schmerzler and Sean Moran of Cushman & Wakefield. PUMA was represented by Robert Gibson and Greg Covey of JLL.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of March 31, 2018, SL Green held interests in 118 Manhattan buildings totaling 49.9 million square feet. This included ownership interests in 28.7 million square feet of Manhattan buildings and debt and preferred equity investments secured by 21.2 million square feet of buildings. In addition, SL Green held ownership interests in 25 suburban buildings totaling 3.7 million square feet in Brooklyn, Long Island, Westchester County, and Connecticut.
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CONTACT: SL Green Realty Corp.
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES REIT BANKING FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY
SOURCE: SL Green Realty Corp.
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PUB: 05/17/2018 07:30 AM/DISC: 05/17/2018 07:30 AM