The 2220 Broadway location, which the retailer has occupiedsince 1993, "is among Filene's Basement's most popular andsuccessful in the New York region," says Cushman & Wakefield'sEVP of retail services, Robert Gibson, in a release. "Under newownership, the brand is in growth mode and this represented theright opportunity at the right time." Filene's was acquired lastyear by Syms Corp.
C&W says Syms plans to keep both stores, using the 2234Broadway space to expand the offerings now available at 2220Broadway, which was the first Filene's location in Manhattan.Additionally, the new store will house a Syms Tailored & Tuxlocation, reportedly the first of its kind in New York. The newstore is scheduled to open this summer.
Gibson and his C&W associate, Thomas Citron, negotiated onbehalf of Filene's. Friedland Properties, the landlord at 2234Broadway, was represented in-house. Terms were not disclosed.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
