Fashion retailer H&M just scored a prime piece of Manhattan real estate from fellow fashion house the United Colors of Benetton for $137M. The Benetton family has owned the six-story Fifth Avenue building since 2002, the chain's exclusive Manhattan home. The 12.4k SF building is in the middle of retail fashion heaven, with the largest H&M in the world just a few blocks away. The rents for nearby retail spaces have risen by 17% over the last year, costing about $1.2k per SF. It's yet to be announced if the Benetton's store will be closed. [NYDN]
H&M Buys Prime Fashion Spot in Manhattan
Continue reading this story with a free account
Log in or register
Related Topics:
601 Fifth Ave
, Fifth Avenue
, H&M
, Manhattan
, Retail
, Retail rents
, United Colors of Benetton
)
)
)
)
)
)
)
)
)
)
)
)