Fifth Avenue is getting more beautiful. L’Occitane en Provence has signed a lease for a flagship store of 3,378 square feet at 555 Fifth Ave. on the southeast corner of East 46th Street next to Barnes & Noble.
When it opens this summer, the store will have three levels with 1,870 square feet on the ground, 1,134 square feet on the mezzanine and another 374 square feet on a lower level.
Matthew Seigel and Payal Doshi of Thor Retail Advisors represented the tenant in the 10-year lease.
“We were thrilled to select 555 Fifth Avenue as the home for L’Occitane’s next New York concept store,” Seigel said. “The global community is of the utmost importance to L’Occitane, and we felt that there was no better place than Fifth Avenue to continue to express that.
“With respect to the site selection, we felt that 555 Fifth Avenue was unique in offering prominent visibility and frontage but also an appropriate store size to preserve their boutique brand DNA,” Seigel added.
Andrew Mandell, Richard Skulnik and Lindsay Zegans of Ripco Real Estate represented building owner Atco Properties, which had an asking rent of $1,100 per square foot.
The lease is expiring at L’Occitane’s nearby shop at 610 Fifth Ave., which is located along the Channel Gardens in Rockefeller Center.
The new space was previously occupied by De Picciotto Jewelers and Vien Restaurant, which will soon open in the former ’Wichcraft location.
