The Maternity, Baby, Gift & Toy Brand to Open Retail Stores in Greenwich and Westport, Conn.
Indicative of the recent trend of international fashion retailers opening shops in prime Connecticut neighborhoods, CBRE’s Nina Becker arranged two new retail leasesfor UK-based clothing designer JoJo Maman Bébé. The fashion brand, which sells maternity and baby clothing, nursery items, gifts and toys inked a 2,021-square-foot lease at 60 Greenwich Avenue in Greenwich, Conn. and a 1,468-square-foot lease at Playhouse Square, located at 275 Post Road East in Westport, Conn. The company plans to open its stores in mid-April 2018.
“We have seen a number of international brands, specifically from the UK and Spain, enter the local Connecticut market recently – it’s a great test market for companies looking to build a presence in the United States. JoJo already had a loyal customer base in the area, making southwestern Connecticut the obvious choice for the brand’s U.S. expansion,” said Becker, a Vice President at CBRE.“Both storefronts in Greenwich and in Westport offered JoJo great visibility in two high-profile neighborhoods that benefit from exceptional foot traffic. After a market analysis, the brand found that there was little to no competition in the area for a specialist brand, allowing them to capitalize on the unmet demand.”
Founded in 1993, the multi-channel mother & babyretailer currently operates 88 stores in the United Kingdom. The new locations in Connecticut will be the first outposts for JoJo in the United States, with a third location opening within days in New Jersey. The brand plans to open a number of additional shops in the coming years.
Jill Pescatore of Worth Property Group represented the ownership of 60 Greenwich Street in the lease negotiations, while Tyler Lyman of True Commercial Real Estate acted on behalf of the 275 Post Road East ownership.
About CBRE
CBRE (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.us.
