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600 5th Avenue

Arc’teryx Leases Retail Space At 600 5th Avenue In Midtown Manhattan Via Rob Speyer
LEASEDRetail

Arc’teryx Leases Retail Space At 600 5th Avenue In Midtown Manhattan Via Rob Speyer

600 5th Avenue

Building Size

13,000 SF

Asset Type

Retail

Closing

Feb 20, 2024

AI

Located at 600 5th Avenue in Midtown Manhattan, the property is a retail space spanning approximately 13,000 square feet. The lease was secured by Arc’teryx, a Canadian outdoor apparel company, marking its presence in the Rockefeller Center area. The previous tenant, Aritzia, was replaced by Arc’teryx in this prime location.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Landlord: Rob Speyer - Tishman Speyer
  • Tenant: Arc’teryx
  • Market: Midtown Manhattan
  • Address: 600 5th Avenue
  • Size: 13,000 square feet

Rob Speyer, from Tishman Speyer, acted as the landlord in this deal, leasing out the retail space to Arc’teryx. Arc’teryx, a renowned Canadian brand known for its outdoor apparel, took over the nearly 13,000-square-foot space from Aritzia, solidifying its presence in the Rockefeller Center area of Midtown Manhattan.

Players

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93