NEW YORK CITY—Tishman Realty Corp. has revealed plans for a complete overhaul of E*Walk, a massive retail complex on 42nd Street. The building's original developer and current owner will upgrade and re-brand the 240,000-square-foot facility in order to prepare it for leasing and a transformation into a modern retail shopping and entertainment hub for locals and tourists alike.

A team of experts—including JLL, Zyscovich Architects, MG Engineering, and Sensory Interactive to help conceive the new plans. The five-level retail complex will boast maximum flexibility—with anchor spaces ranging from 20,000 square feet to 50,000 square feet and multiple small tenant configurations also available.

More specifically, the proposed spaces will be able to accommodate both large-and-small-format retail, apparel and entertainment uses, plus there is an additional 20,000 square feet of billboard and dynamic multimedia signage available to maximize retailer branding.

The JLL team leading the assignment are vice chairman of retail brokerage Patrick A. Smith, managing director Erin Grace and EVP Corey Zolcinski and Matt Ogle.

Originally conceived and developed as retail, E*Walk also offers 400' by 100' floorplates, high ceiling heights, and the opportunity for retail users to create dramatic double height store fronts. The re-development is expected to be completed in 2020.

The five-level retail complex will boast maximum flexibility, with anchor spaces ranging from 20,000 square feet to 50,000 square feet and multiple small tenant configurations also available. The proposed spaces will be able to accommodate both large-and-small-format retail, apparel and entertainment uses, plus there is an additional 20,000 square feet of billboard and dynamic multimedia signage available to maximize retailer branding.

Located along 42nd Street between Seventh and Eighth Avenue, E*Walk sits on one of the busiest intersections in the city, reportedly with 94,000 passer-byers daily and 65 million commuters a year from the nearby subway stations and Port Authority Bus terminal. In addition, its adjacency to Times Square's “Bowtie” area, provides an opportunity for retailers seeking a flagship type store at competitive rental rates.

“Our team is excited for the opportunity to partner with Tishman in their efforts to re-envision this iconic retail property,” says Smith. “To have the opportunity to re-merchandise and implement a strategy for the second evolution of a large retail asset, in this historic entertainment corridor, is very rare. We believe retailers and entertainment operators will embrace the proposed co-tenancy, modern physical plant and branding potential a project this size and location offers.”

The JLL team leading the assignment are vice chairman of retail brokerage Patrick A. Smith, managing director Erin Grace and EVP Corey Zolcinski and Matt Ogle.

Instant Insights /

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