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32 Degrees & Geox Agree to Deals at Garment District Office Space

| Commercial Real Estate News, Deals, Featured, Leasing, Office| Views: 0

Activewear designer 32 Degrees and shoe brand Geox have signed deals at the L.H. Charney-owned 1410 Broadway property. The 34-story office tower — originally built in the 1930s — is located between West 38th and West 39th streets in Manhattan’s Garment District.

The largest of the two leases was a 12,000-square-foot expansion for 32 Degrees, which brings the company’s total footprint in the building to roughly 37,000 square feet. According to the landlord, the asking prices at 1410 Broadway per square foot ranged between $50 and the mid-$60s.

Collier’s Rick Doolittle, JP Howard, Michael Joseph and Taylor Bell represented both parties during the negotiation process.

“The ‘flight to quality’ trend applies to all the various price points and submarkets of the office sector — it’s not just a thing on Park Avenue,” Doolittle said.

“While the office market continues to be challenging, the continued activity that we have seen at 1410 Broadway is a testament to our strategy for the Broadway office assets,” L.H. Charney CEO, Joseph Giannola, said. “The successful lease-up of all our retail spaces with unique and vibrant brands has been a key amenity to office users.”

Meanwhile, Italian shoe and clothing manufacturer Geox also agreed to lease 3,500 square feet on the 14th floor of the property. Geox will be joining a roster of textile industry tenants including sportswear company Argee, knitted apparel manufacturer Trend Textile and LCC Development.

For this deal, the tenant was represented by a Cushman & Wakefield duo comprised of Ron Lo Russo and Jason Kroeger.

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