Puma has signed a lease deal to open a flagship store on Manhattan’s Fifth Avenue shopping corridor. The three-level, 24,000-square-foot space is at 609 Fifth Ave. at 49th Street, opposite Saks Fifth Avenue.
SL Green said in a statement that it recently embarked on a redevelopment of the property, which includes a relocation of the existing office lobby from Fifth Avenue to 49th Street. Puma will benefit from the redevelopment, as the three-level retail flagship will feature state-of-the-art, double-height storefronts across 160 feet of wraparound frontage.
“We are incredibly proud to open the first Puma Brand Store for North America at this iconic location on one of the most prestigious streets in the world,” said Bjørn Gulden, CEO of Puma, in the statement. “For the past several years Puma has been focused on becoming the fastest sports brand in the world, and we feel now is the perfect time to show the world who we are. We are very pleased to begin our partnership with SL Green at 609 Fifth Avenue, and we are going to build an engaging brand experience that we will all be very proud of.”
“Fifth Avenue will always be the destination for global flagships amongst international retailers,” said Brett Herschenfeld, managing director at SL Green. “We are proud to establish this relationship with Puma, and look forward to ensuring that this distinguished corner continues to thrive as a destination. The retail market in New York City continues to attract the best of both new and established brands.”
SL Green was represented in this transaction by Steve Soutendijk, Michael O’Neill, Jason Greenstone, Alan Schmerzler and Sean Moran of Cushman & Wakefield. Puma was represented by Robert Gibson and Greg Covey of JLL.
Photo courtesy Nacasa & Partner/Puma AG