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Prada renews early at SL Green’s 724 Fifth Avenue
New York — Prada has renewed the lease for its New York City flagship store at 724 Fifth Avenue, according to SL Green Realty Corp. and Jeff Sutton, a partnership that owns the building.
The early lease renewal — the existing lease will not expire until 2017 — will keep one of the world’s iconic fashion and accessory houses at the prime Manhattan location through 2028. Prada occupies 15,540 sq. ft. on four levels, plus another 5,200 sq. ft. of office space on the fifth floor of the building.
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Saks to move Cincinnati store to Kenwood Collection
Cincinnati — Saks Fifth Avenue has signed a letter of intent to relocate its downtown Cincinnati store to The Kenwood Collection, which Phillips Edison & Co. is transforming from a regional destination to a super-regional destination that will draw shoppers from three states.
According to the letter of intent, Saks will lease 80,000 sq. ft. of retail space over two levels of a building that fronts I-71. Plans call for the store to open in the spring of 2016.