Reebok leasing space in New York

Reebok is starting to build Fit Hubs across the nation.

From a designer jean store to a fitness hub, the New York corner at 1 Union Square West is about to get a makeover, according to Racked.

Shoe and athletic apparel company Reebok is gearing to open a combination CrossFit-style gym and retail concept store in the 11,600-square-foot space previously occupied by Diesel. Considered one of the city's prime shopping locations, Reebok's Fit Hub store is slated for launch in the spring 2014. It will be the largest of three such stores, and Reebok has plans to open as many as 10 throughout the country next year.

Jeremy Ezra and Yael Amron of real estate firm RKF represented Reebok in the transaction. Eugene Warren and William Abramson represented Buchbinder & Warren, the landlord, in the deal.

"Many international tourists come here in addition to locals that are sophisticated, youthful, and athletic," said Ezra, vice president of RKF, according to Commercial Observer. "Other fitness-based and sportswear retailers have done extremely well in the market, and when you add in stores like Whole Foods and the greenmarket, Union Square is developing into a wellness district in its own right."

Dividing the fit hub space for retail and workout purposes
The Fit Hub will be split in two, with 4,800 square feet of space going to ground-floor retail and 6,800 square feet being used for the gym on the lower level.
The nine-story Class B building was completed in 1890 and designated a city landmark in 1985, according to a report from The Real Deal.

Buchbinder & Warren first listed the entire 6,935-square-foot sixth floor in October for $65 per square foot, marking the first time a full floor at 1 Union Square West has been brought onto the market since the owner bought it in the 1970s, according to Eugene Warren, a founding partner of the firm.

"We never offered a full floor before, it was always multiple tenants," Warren told The Real Deal.

The building's $65-per-square-foot asking rent exceeded the average asking rent for the Midtown South market, which increased by $1.48 per square foot to $54.56 per foot from September to October, according to Colliers. The availability rate for Midtown South remained flat at 9.1 percent, Colliers reported.

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