Madewell Expands Brooklyn Footprint with 8.3K SF Store on North 6th St, Williamsburg

Madewell's Triumphant Trifecta in Williamsburg

Madewell, a renowned apparel retailer, is set to expand its footprint in Williamsburg, Brooklyn, by opening a third store. The brand has secured a 10-year lease for a space spanning 8,300 square feet at 109 North Sixth Street. This new store will be the brand's 10th in the city and will join its two existing Brooklyn locations on the same street.

Details of the Lease

The lease agreement was signed with Mark, a UK-based investment firm that owns the building at 109 North Sixth Street. The specifics of the lease, including its length and the asking rent, were not disclosed by Mark. However, it's worth noting that the average retail asking rent in Brooklyn in the third quarter of 2023 was $625 per square foot, as per PropertyShark's data.

Why Williamsburg?

Williamsburg has become a hot spot for luxury brands seeking to acquire customers. The rising cost of digital marketing is pushing brands to physical locations like Williamsburg, where they can engage with a highly qualified and informed consumer base. This makes the area a smart choice for brands like Madewell. The new store is expected to open in spring 2024.

Williamsburg's Retail Scene

Williamsburg's retail vacancies are a rare find, making it a coveted location for retailers. The area boasts steady foot traffic from office workers and locals working from home, making it an ideal location for businesses looking to tap into a diverse customer base.

Representatives Involved

GoodSpace’s Hank O’Donnell, Christopher DeCrosta, and brokers from Open Space Realty represented the landlord in the lease agreement. Steve Merkle from Newmark represented Madewell. Both Newmark and Open Space Realty were unavailable for comment at the time of writing.