New York City—The Feil Organization has arranged a groundbreaking lease with Tommy Bahama for the opening of the retailer’s first Manhattan store at 551 Fifth Avenue at 45th Street.
New York City—The Feil Organization has arranged a groundbreaking lease with Tommy Bahama for the opening of the retailer’s first Manhattan store at 551 Fifth Avenue at 45th Street.
The Seattle-based retail chain signed a 12-year lease agreement and will occupy 8,500 square feet on the ground, mezzanine and basement levels of the renowned art deco Fred F. French building that is owned and managed by The Feil Organization. Currently an 89-store chain, Tommy Bahama was founded in the early 1990s and is a subsidiary of Oxford Industries Inc., an Atlanta-based apparel maker.
The deal was brokered by Amira Yunis from Newmark Knight Frank. According to Yunis, Tommy Bahama will be moving — hopefully by year end — into the space now occupied by the clothing store New York Look. According to Brian Feil, vice president of leasing at The Feil Organization, “National retailers have steadily been moving into the stretch of Fifth Avenue between 42nd and 49th Streets.” With the new Tommy Bahama deal, as well as the recent opening of Urban Outfitters at Fifth Avenue and 43rd Street, and the new Guess store opening at 47th Street, the area is evolving into a very powerful and vibrant retail marketplace.
Erected in 1927, The Fred F. French building is listed in the National Register of Historic Places and has been owned by The Feil Organization since 2001. The private, established commercial real estate firm is headquartered in New York City and has been active in commercial real estate for over 50 years. With regional offices in Chicago, New Orleans and Long Island, the company owns and operates a nationwide portfolio of over 26 million square feet of retail and commercial space, and over 5,000 residential rental units.