SMCP Brands Relocates HQ to 44 Wall St.
Another non-financial company comes to the Financial District, leasing 17,337 square feet from EQ Office.
NEW YORK CITY—Lower Manhattan continues to diversify. SMCP Brands is moving its North American headquarters and showroom to 44 Wall St. They inked a 10-year deal with Blackstone real estate funds’ US office portfolio company, EQ Office. The clothing and accessories company produces three well known fashion brands, Sandro, Maje and Claudie Pierlot. It will occupy the entire 12th floor at their new location, comprising 17,337 square feet.
Although the lease price was not disclosed, a source close to the deal tells Globest.com that the asking rent was in the low to mid-$60s per square foot.
In the fourth quarter of 2019, SMCP will be moving from their current offices at 10 Crosby St. Founded in Paris with its original brands starting in 1984 and 1998, the fashion company has expanded to five continents with 1,400 operations worldwide.
EQ Office was represented in-house by Scott Silverstein and CBRE’s Zachary Price, Michael Rizzo, Jeffrey Fischer and Caroline Merck. Newmark Knight Frank’s Stephen Gordon and Nathan Kropp represented SMCP.
Since acquiring 44 Wall St. in 2016, EQ Office has significantly invested in modernizing the asset. The 336,000-square-foot building was originally constructed in 1927, according to Real Capital Analytics. EQ Office has renovated the property, constructing multiple pre-built floors and redesigning the lobby, showcasing artwork by New York City street artist Hellbent. This change in interior design resulted in Architectural Digest’s adding 44 Wall St. to its list of “The 12 New York City Office Buildings with the Most Incredible Artwork.”
Other tenants signing onto 44 Wall St. include the marketing technology company Contently; the digital scorekeeping app creator GameChanger; advertising firms Joan Creative and Giant Spoon and the mobile tech company and smartphone manufacturer OnePlus.
Gordon says that SMCP’s lease “is representative of Lower Manhattan’s shift to a more diverse tenancy that includes nearly nine million square feet of transactions with fashion and creative tenants.”