Newmark Knight Frank (NKF) announced today they successfully completed a new ten-year lease between AWAY Travel and HSRC. at 82 Mercer Street in SoHo. President New York Tri-State Region David Falk, Senior Managing Director Eric Cagner, Associate DirectorJon Franzel, and Associate Alex Leopold represented the landlord HSRC. Sinvin represented the tenant.
The building possessed many of the attributes that today’s progressive tenants seek such as 15’ high exposed ceilings, exposed brick walls and archways, hardwood floors and cast-iron columns.Ownership recognized that these elements needed to be exposed and so they set out to renovate the premises with a clean new white box and a brand new lobby off the Broadway side of the building. AWAY Travel will end up occupying the entire 3rd, partial 2nd and entire lower level portions of the building for approximately 56,000 SF.
“We recognized early on that 82 Mercer offered today’s creative tenant an A+ location for the quality of life that a company wants for theiremployees,” said Cagner. “Having a partner such as HSRCthat committed the capital needed to restore theaforementioned elements (i.e. the brick, high ceilings, etc.) enabled our team to find the perfect match with AWAY, who we are thrilled to see join the tenant roster at 82 Mercer.”
AWAY Travel is a modern travel and lifestyle brand, incorporating useful technology into high-quality luggage at an affordable price point. AWAY’s smart luggage technology has reshaped the industry by building portable technology into its suitcases, eliminating the use of additional battery or phone chargers for all devices while traveling. AWAY is vacating their space at 411 Lafayette Street to further accommodate and serve their expanding business.
The office portion of the building is now fully occupied, leaving just prime retail space of approximately 10,000 SF, in the heart of SoHo.
About Newmark Knight Frank
Newmark Knight Frank, operated by Newmark Group, Inc., is one of the world's leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, NKF's 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, NKF's strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.
Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and NKF Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world's largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.
