Could Luxury Pop-Ups Help Revitalize the Retail Market?

Gucci and North Face have joined forces to launch a pop-up retail shop in Williamsburg, Brooklyn. The collaboration signed a 4,000-square-foot lease at 134 N 6th Street, a property owned by L3 Capital. The deal signals the recovery of the luxury retail market, and the potential that pop-ups might play in revitalizing the sector.

Newmark negotiated the lease on behalf of the landlord. The firm’s vice chairman Ariel Schuster and associate director Tyler King represented the landlord in the transaction, while GoodSpace’s Hank O’Donnell and Chris DeCrosta represented the tenant. Schuster has seen a rising trend in luxury collaborations. “Recently, several brands and collaborations like Gucci have been taking a serious look at Williamsburg as a place in which to set up shop due to its lively residential population and forward-thinking neighborhood retailers,” he said in a statement.