Nike Continues NYC Expansion With 60k SF Lease
Nike’s not letting the outcry against its new SoHo location slow its NYC activity.
The sports goods manufacturer signed a 60k SF, 15-year lease for five-plus floors at SL Green Realty and Jeff Sutton’s 650 Fifth Ave.
Nike has been looking for space for some time, seriously considering FAO Schwarz’s former 53k SF space at the General Motors Building. The space was taken by Nike's biggest athletic apparel competitor, Under Armour.
It’s unclear if this will replace or complement Nike’s current digs at Trump Tower, the Commercial Observer reports.
Sutton and SL Green acquired a 49-year leasehold for the tower’s existing four-floor, 30k SF retail portion in 2013, and expanded it to its current size. The JV also bought out Godiva and Devon & Blakely’s leases to make room for the Oregon-based sports giant.
The asking rent for the ground floor was $4k/SF. Cushman & Wakefield’s Joanne Podell repped Nike, and it's not currently known who repped Sutton and SL Green. [CO]
