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Outdoor gear retailer Arc’teryx is opening up a 12,689-square-foot store at the base of Tishman Speyer’s 600 Fifth Avenue.
This will be the sixth Manhattan location for the Canadian company. Arc’teryx will take over the space from fellow Canadian brand Aritzia, which relocated to a space almost three times the size at 608 Fifth Avenue in June 2022.
The New York Post first reported the Arc’teryx lease. Tishman Speyer did not immediately provide the length of the lease, the names of the brokers on the deal, the asking rent or when Arc’teryx plans to open.
Arc’teryx did not immediately respond to a request for comment.
The average retail asking rent on Fifth Avenue between 42nd and 59th streets at the end of the fourth quarter of 2023 ranged between $601 and $2,483 per square foot, according to a report from CBRE.
The lease comes as the retail dynamics on Fifth Avenue seem to be changing fast, particularly with a set of deals organized by Jeff Sutton of Wharton Properties. Wharton recently sold off 724 Fifth Avenue and 720 Fifth Avenue to Prada for a combined $722 million as well as the $963 million sale of 715-717 Fifth Avenue to Kering, which owns brands Gucci, Balenciaga and Yves Saint Laurent.
Mark Hallum can be reached at mhallum@commercialobserver.com.
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