There’s an overlooked pattern in the red-hot downtown office market — a migration to the FiDi/World Trade Center region of fashion firms.
Tenants in the fashion business developed from 0.9 percent of the region’s total inventory 10 years back to almost 3 percent, as per CBRE and the Downtown Alliance.
Even though they represent no risk to the dominance of financial, media and creative organizations, the expansion is, in any case, wonderful for a district that was once decidedly unfashionable.
Hugo Boss moved its North American HQ to 55 Water St. in 2014. Somewhere in the range of 2018 and 2019, fashion- and beauty-related organizations leased more than 891,000 square feet in the zone. Tenants included Nike and J. Crew.
Most recently, L Brands, the retailer behind Victoria’s Secret and Bath and Body Works, united into 220,000 square feet at 55 Water St., moving from 1740 Broadway.
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