NEW YORK — Urban Outfitters Inc. will build its largest store in the world at 1333 Broadway in Manhattan to unveil a new “lifestyle center” concept.
This story first appeared in the July 3, 2013 issue of WWD. Subscribe Today.
The Philadelphia-based operator of the Urban Outfitters, Anthropologie, Free People, Terrain and BHLDN brands has signed a lease for 56,730 square feet on three levels on the northwest corner of 35th Street and Broadway, just north of Macy’s.
Anthony Malkin, president of Malkin Holdings, said Urban Outfitters will create “an innovative new lifestyle center concept with new features never before seen from the brand.” Malkin Holdings supervises 1333 Broadway. The retailer will take occupancy in September, according to Malkin.
The stretch along Broadway from Macy’s to Times Square offers little in the way of retailing and entertainment and at night becomes desolate, though its relatively new pedestrian walkway has helped enliven the area. Malkin said that the new Urban Outfitters concept “will be a huge catalyst for this retail and office neighborhood extending north of Herald Square. The area has seen transformational changes over the past few years, as Broadway with its pedestrian arcades links Herald Square to Times Square, and Urban Outfitters will be a magnet for shoppers.” Malkin Holdings includes a few other properties along Broadway between Herald Square and Times Square that it hopes to fill with new retail and restaurants.
Officials at Urban Outfitters could not be reached for comment Tuesday on the new concept or its name. “It’s to be determined. There are a lot of moving parts,” said a real estate source. Urban Outfitters’ largest stores are in the 25,000-square-foot range.
Malkin said 1333 Broadway contains 12 stories and 363,000 square feet of modern office space and has undergone a $71 million upgrade involving the lobby and restoring its ceiling and marble finishes, installing two new elevators and renovating three existing passenger elevators and freight elevators. The building is owned by 1333 Broadway Associates LLC, a partnership led by Peter L. Malkin and Anthony Malkin.