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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Source: SL Green Realty Corp.
SL Green Realty Corp.