The Robert Allen Group To Relocate To 38,000-Sq.-Ft. At 11 W. 42nd St.
2 Aug, 2005, New York, NY
Leading designer and marketer of decorative fabrics expands; plans a move to Midtown
In a strategic real estate move that was more than a year in the making, The Robert Allen Group has leased 38,348-sq.-ft. at 11 W. 42nd St. in Midtown, where it plans to relocate from about 30,000-sq.-ft. in Midtown South.
The Robert Allen Group, a leading designer and marketer of decorative fabrics to the interior design trade, executed two lease transactions within the building to accommodate its growth in New York: a 10,466-sq.-ft. direct lease with the building's landlord, and a 27,882-sq.-ft. sublease from apparel firm Jones New York.
The company is currently located at 79 Madison Ave., in Midtown South, which it plans to vacate. The Robert Allen Group leased the entire 22nd and 28th floors at 11 W. 42nd St., which is located on 42nd Street between Fifth and Sixth Avenues.
Cushman & Wakefield brokerage professionals Glenn Markman and Danielle Zimbaro represented The Robert Allen Group in its office space evaluation, site search and lease negotiations. Robert Martin, Paul Walker, and Ken Meyerson of CB Richard Ellis represented the sublandlord, Jones New York. Calvin Farley and Greg Conen of Tishman Speyer Properties represented the building as agent for the landlord.
"The Robert Allen Group determined well in advance of its lease expiration the precise opportunity it was looking for in this market," said Ms. Zimbaro, a Cushman & Wakefield director. "When it surfaced, they grabbed it."
"The space in the building offers light and air, which creates the ideal work environment for the firm's designers," said Mr. Markman, a Cushman & Wakefield executive director. "The building itself, just blocks from Grand Central and across the street from The New York Public Library and Bryant Park, is at the heart of Midtown offering a superior location, class-A infrastructure and world-class amenities."
Built in 1927, 11 W. 42nd St. rises 33-stories and totals about 930,000-sq.-ft. In addition to The Robert Allen Group, major tenants in the building include Martha Stewart Living-OmniMedia, Empire Blue Cross & Blue Shield, Michael Kors, and Tahari Ltd.
The Robert Allen Group is the nation's leading designer and marketer of decorative fabrics and furnishings to the interior design trade. The Company sells its products under the Beacon Hill, Robert Allen, Robert Allen Contract, Robert Allen @ Home and Ametex brands, including Robert Allen Color Library, the well-known industry standard sample book. The Company has showroom locations throughout the United States, Canada, and the United Kingdom and an extensive worldwide agent showroom network. For customer service in the U.S., please call 800-333-3777.
Cushman & Wakefield is the world's largest privately held real estate services firm. Founded in 1917, the firm has 175 offices in 50 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133.