According to a release from Cassidy Turley, which represented Kellwood, the 555,000-square-foot property's new tenant has also signed a lease renewal offering multiple space expansion options with landlord Lechar Realty Group. "This space was well-built and furnished and offered the opportunity to consolidate Kellwood's operations into a contiguous block of built space from many properties in the Garment Center Market," Nicola Heryet, principal/senior managing director at Cassidy Turley, says in the release. "The space was able to accommodate Kellwood's expansion and consolidation needs by providing expansion options on four contiguous floors, creating the potential to occupy a 100,000 square foot, contiguous block of space at the building."
Lease terms were not disclosed; rents for comparable properties along Broadway range from the mid $30s to low $40s per square foot. Heryet and her Cassidy Turley colleagues Mark Boisi and Stephen Bellwood represented Kellwood. Other fashion tenants at the 38-story 1441 Broadway include Tommy Hilfiger, Jones of New York and Buffalo Jeans.
Kellwood is an affiliated portfolio company of Sun Capital Partners, which acquired it for $542 million in 2008. Currently it's located at 1407 Broadway.
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