Midwood Investment & Development has announced that BESTSELLER Wholesale U.S., a subsidiary of the international, family-owned fashion company BESTSELLER, has signed a lease for the fourth floor of 96 Spring Street, which is now fully leased. BESTSELLER's fourth floor space is a 7,400 SF unit which will serve as a first-class showroom to exhibit products to its wholesale clients. BESTSELLER was founded in Brande, Denmark in 1975 and offers more than 20 individual brands including Jack & Jones, Vero Moda, and Only and Selected.
“96 Spring Street has proven to be a major draw for innovative companies who are looking to expand their presence in New York City,” said John Usdan, CEO of Midwood Investment & Development. “Situated at the corner of Spring and Mercer Streets in the heart of Soho, one of New York City’s premier shopping destinations, 96 Spring is a testament to the caliber of retailers the neighborhood can and will continue to attract.”
Randy Abend and Clark Finney of JLL represented ownership in the transaction at 96 Spring Street, while Joe Mastromonaco and Fritz Kemerling of The Dartmouth Company represented the tenant. The asking rent was $85 SF.
“This is an exciting relocation for BESTSELLER’s U.S. office and showroom,” said Fritz Kemerling of The Dartmouth Company. “The Soho neighborhood and 96 Spring in particular were in line with the BESTSELLER profile. They are going to build a spectacular space to showcase their brands.”
96 Spring Street was built in 1896 and offers 6 full-floor office suites and 44,000 SF of rentable area with an additional 10,000 SF of ground-floor and 2nd-floor retail. Alo Yoga recently opened its first East Coast flagship at 96 Spring Street, leasing a 14,000 SF two-floor space which includes retail on the ground floor, along with a yoga studio for classes and guided meditation on the second floor.