By  on August 14, 2007

NEW YORK — Abercrombie & Fitch Co. has signed a lease to open a 40,000-square-foot store at 600 Broadway between Houston and Prince Streets in SoHo, according to informed sources. The company declined to comment.

The SoHo store is not as big as the 65,000-square-foot, 14-story flagship in the Ginza district of Tokyo that Abercrombie plans to open in 2009, but is larger than the 36,000-square-foot flagship at 720 Fifth Avenue and 56th Street that the company opened in November 2005.

The SoHo space is now occupied by Pottery Barn, which is expected to close to make way for A&F. A group of investors led by Alex Adjmi recently bought the six-story, 65,000-square-foot building at 600 Broadway. Adjmi, who also owns 568 Broadway, which houses an A|X Armani Exchange store and an upcoming Forever 21 unit.

Abercrombie's SoHo unit will be the retailer's third store in Manhattan. A unit on Water Street at the South Street Seaport opened in 1988. The Fifth Avenue flagship, with its high-traffic location, generates $55 million in annual sales.

Broadway in SoHo also boasts a high pedestrian traffic count, especially on weekends, when hordes of shoppers fill the street. A&F's downtown neighbors will include Bloomingdale's at 504 Broadway, Uniqlo at 546, H&M at 558 and Prada at 575.

Asking rent for ground-floor space on Broadway is about $282 a square foot, and can go as high as $400 a square foot, according to real estate brokers.

Abercrombie, which is aimed at 18- to 22-year-olds, has been working on its European expansion. The company, which opened an A&F flagship at 7 Burlington Gardens in London, has a goal of opening, during the next five years, 10 to 12 units in Europe, where there's said to be pent-up demand for the brand.

The retailer also is working on a flagship prototype for its Hollister division.

load comments
blog comments powered by Disqus