NIKE Signs New Fifth Avenue Lease

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NIKE Signs New Fifth Avenue Lease

NIKE signed a 15-year retail lease for nearly 70,000 square feet in the heart of New York City's famed Fifth Avenue.

SL Green Realty Corp, New York City's largest commercial landlord, along with its partner Jeff Sutton, handled the lease agreement, which covers seven floors and 69,214 square feet at 650 Fifth Avenue. The lease comprises the building's entire retail component. Situated at West 52nd Street, 650 Fifth Avenue is a 36-story office building in the heart of the Plaza District.

Last month NIKE opened a sprawling state-of-the-art flagship in SoHo that boasts immersive experiences, exclusive product, high-touch service and up-to-the-minute technology integrations.

"We are excited about this partnership and look forward to continuing to bring consumers the very best of Nike in another new, unique brand experience store,” said Jeff Nichols, vice president of Nike's direct to consumer business in North America.

"It is a true honor to enter into this long-term partnership with such a respected global sports retail leader as Nike,” said Brett Herschenfeld, managing director.