Flagship Foot Locker Lease Named 'Most Significant Retail Deal'
Foot Locker’s move to open its 36k SF flagship store at the newly redeveloped 8 Times Square was named REBNY’s “Most Significant Retail Deal of the Year” on Thursday, and CBRE’s Eric Gelber and Jason Vacker were honored for their role in bringing the deal to fruition.
The lease beat out 11 competing entries to earn the night’s top prize.
The deal “signified an important milestone, marking the first time a major Times Square retailer crossed over 42nd Street to Times Square South,” the pair added. “The move redrew the boundaries of the submarket and helped forge the connection between Herald Square and Times Square,” said partners Stephen Meringoff and Leslie Himmel, who co-own 8 Times Square along with The Swig Co, in a statement.
“We had closely studied this stretch of Broadway and knew that as we reimagined, redeveloped and rebranded this property, it could be a game-changer for the market and for the right retailer,” Jason said.
“Eric and I often joked," he added, "as marathon runners, that this deal took a similar level of intensity and perseverance.”