2013   2012   2011   ARCHIVE

The Real Deal | Adidas inks deal for new flagship store on Fifth Avenue

12.22.15

By Kathryn Brenzel
Adidas has inked a 15-year lease for a 34,000-square-foot ground-floor space on Fifth Avenue.

The sports brand giant will open up a new flagship store in Stawski Partners’ office building at 565 Fifth Avenue, the New York Observer reported.

The asking price for the space was $1,000 per square foot. The average asking rent on this stretch of Fifth Avenue is $1,244 per square foot, according to Cushman & Wakefield’s latest retail market report.

Just three blocks away — between 49th and 60th streets — the average asking rent jumps to $3,080 per square foot. RKF’s Jeremy Ezra represented Adidas, and Stawski handled the deal in-house.

The space, which is almost double the size of the brand’s store at 610 Broadway, was previously occupied by Build-a-Bear Workshop. The other tenant, Redken, is in the process of relocating to 404 Fifth Avenue. Adidas is expected to open its new store in late 2016.

X

Submit Resume

* Required Field

Fill out my online form.

EMAIL TO A COLLEAGUE

Enter your information:


Enter your friend's email addresses:



 

Prove you’re human.: