Savitt Partners Team Arranges Long-Term Retail Lease for ITSU at 530 Seventh Avenue
Savitt Partners today announced that ITSU, a British chain of Asian-inspired fast food shops, restaurants and grocery stores, has inked a long-term retail lease at 530 Seventh Avenue. Founded by Julian Metcalfe, co-founder of Pret a Manger and founder of Metcalfe's Food Company, in partnership with Clive Schlee, ITSU committed to 2,100 square feet of retail space on the ground floor of the 490,000-square-foot property located on 39th Street and Seventh Avenue in the Fashion District. Average asking retail rent at the boutique office building is $400 per-square-foot.
Bob Savitt, Brian Neugeboren and Nicole Goetz of Savitt Partners acted on behalf of the building ownership. The RKF team of Jaclyn Totolo, Ariel Schuster and Michael Paster represented ITSU in the lease negotiations.
The 2,100square-foot lease at 530 Seventh Avenue represents the eatery’s first location in the US. Headquartered in London, Great Britain, ITSU has nearly 60 locations around London featuring menus that celebrate the amazing flavors of the Far East, high in nutrients yet refreshingly low in calories and saturated fat.
“We welcome ITSU to the property and the neighborhood, said Mr. Savitt. “Over the past few years the Garment District has experienced a true renaissance with the incredible influx of major TAMI office tenants, as well as several new and exciting neighborhood eateries and hotels. ITSU will benefit greatly from 530 Seventh Avenue’s central location in the heart of Midtown Manhattan, near all forms of transportation and the overall buzz surrounding the area.”
530 Seventh is home to The Skylark. Set 30 stories up in the heart of Times Square South, The Skylark delivers a classically-styled cocktail lounge with expansive panoramic views of the best of Midtown Manhattan. Perfect for entertaining or after work cocktails, the Skylark is a multi-level indoor/outdoor lounge, truly an all-season destination.http://www.theskylarknyc.com/
530 Seventh can also offer creative space with flexible terms at Space530. Located on the Mezzanine level of the building, Space530 is a full service co-working environment for innovative brands and creative companies seeking unique office and showroom space.http://www.space530.com
The building is Wired Certified Platinum. A Wired Certified building offers tenants choice of multiple high-speed broadband providers and features an innovative and cutting-edge telecommunications system.
About Savitt Partners
Savitt Partners is a full-service commercial real estate company headquartered in New York City. Founded by Bob Savitt, the firm owns and/or operates a portfolio totaling nearly three million square feet of office and showroom buildings in Manhattan, including 530 Seventh Avenue, 499 Seventh Avenue, 11 West 19th Street, 218 West 40th Street, 693 Fifth Avenue, 1385 Broadway, 142 West 36th Street and 234 West 39th Street. In addition to overseeing the leasing and management of its own assets, the firm provides superior leasing, asset and property management and investment services to other quality owners and tenants.
