The French brand, known for its crocodile logo that became a symbol of preppy snobbery in the late 1970s, has had its U.S. offices 24 blocks north at 551 Madison Avenue for decades and flirted leaving in 2010, but signed on for another 13 years after it scored a lower rent, as CO previously reported. Lacoste initially leased 32,000 square feet at 551 Madison but later downsized to about 20,000 square feet, according to a spokesperson for Williams.
This time around, Lacoste decided to jump ship thanks in part to scoring a custom buildout of its new offices supplied by the landlord, according to Williams. Lacoste plans to move in the second quarter of next year.
“Lacoste is an internationally renowned apparel company that wanted a high-end office space with amenities to support its brand and employees,” Colliers (CIGI)’ Mac Roos, who represented the landlord with Andrew Roos, Michael Cohen and Jessica Verdi, said in a statement. “This boutique Madison Avenue building continues to attract leading creative firms drawn to the neighborhood.”
French clothing brand Lacoste U.S.A. will move its offices down south on Madison Avenue, Commercial Observer has learned. Lacoste signed a 10-year lease for 18,364 square feet on the entire 17th floor of 136 Madison Avenue, according to landlord Williams Equities. A spokesperson for Williams declined to provide the asking rent, but a recent Cushman Channel, Leases, Office, 136 Madison Avenue, New York City, Manhattan, Midtown South, CBRE, Colliers, Lacoste, Lacoste U.S.A., Williams Equities
Lead by real estate veteran Robert Khodadadian, Skyline Properties has been instrumental in many multi-million dollar commercial developments, including a $12 million contract for the White House Hotel, a 99-year ground lease of a four-story commercial site in Harlem, and a retail co-op on Prince St. for $50 million.