New York City-based Himmel + Meringoff Properties’, along with co-owner The Swig Company, based in San Francisco, have completed the repositioning of their Manhattan mixed-use high-rise at 1460 Broadway.
Athletic footwear and apparel company Foot Locker has signed a 15-year lease to occupy the building’s entire 36,000-square-foot, four-level retail component which has been designated as 8 Times Square.
This flagship location, positioned steps from 42nd Street, will feature a new three-story, 35-ft high all glass storefront designed by MdeAS and will include 4,500 square feet of newly constructed spectacular LED signage visible from the heart of Times Square and as far south as Macy’s. Foot Locker plans to open its new store in time for the 2016 holiday season.
“We are delighted that Foot Locker will occupy 100% of our multi-level property at 8 Times Square, where it will benefit from around the clock pedestrian traffic and incomparable brand signage,” said Leslie Himmel.
“This lease completes the re-tenanting of both the office and retail components of 1460 Broadway, the 16-story, 215,000-square-foot property we acquired in partnership with the Swig Company in late September 2014,” said Stephen Meringoff. “We are fortunate to have found two world-class tenants this quickly.”
The announcement comes on the heels of the news revealed in early April that WeWork, the rapidly growing provider of shared workspace for start-ups and small businesses, signed a 180,000-square-foot lease for all of the commercial office space at 1460 Broadway.
“It is testament to the strength of Manhattan’s office and retail market in key locations like Times Square, that this absorption was achieved in only a little more than seven months’ time with zero vacancy,” added Ken Perry, CEO of the Swig Company.
CBRE’s Eric Gelber, senior vice president, represented Foot Locker in the transaction, while Farrell Virga, president and Jason Vacker, executive vice president, acted in-house on behalf of ownership.