WeWearAustralian Leases 5,000 SF Retail Space At 69 Mercer Street Soho From PEP Real Estate

The asset involved in this transaction is a retail space located at 69 Mercer Street, nestled in the SoHo market. The lease involves a modified gross lease type, with an asking rent of $240 per square foot for a total area of 5,000 square feet.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $240/ft
• Square Footage: 5,000
• Address: 69 Mercer Street
• Market: Soho
• Landlord: PEP Real Estate
• Tenant: WeWearAustralian
• Brokers: Edward Nelson & Ian Lerner - Cushman & Wakefield
• Lease Type: Modified Gross Lease

Edward Nelson and Ian Lerner from Cushman & Wakefield represent the landlord, PEP Real Estate, in this significant lease. A notable aspect of this deal is that WeWearAustralian has signed a long-term lease for its first-ever global flagship store, signaling the brand’s formal entry into brick-and-mortar retail.