Barneys New York will be staying in their current corporate headquarters at 575 Fifth Avenue, although some changes are about to happen: the company just signed a 71,000-square-foot lease renewal and expansion at the 40-story building in Manhattan's Midtown.
Although the company already occupies a few portions of floors on the building, Barneys seems to be planning on centralizing their offices in the tower, thanks to the new expansion. The Real Deal reports:
"The luxury department store chain is renewing its space on floors 9 through 11 at the 520,000-square-foot property, having already occupied a portion of the 9th floor and the entire 10th and 11th floors."
Recently signed on December, the new lease also highlights an expansion of Barneys' office space within the building - the company will now be taking over the entire 9th floor.
A CBRE team led by Keith Caggiano, Gregg Rothkin and David Caperna represented the landlords, Beacon Capital Partners and MetLife, while Newmark Grubb Knight Frank's Ross Perlman represented Barney's for the deal.
Although it seems as though business is doing good for Barneys New York, the company will be closing down its store at Scottsdale Fashion Square in Phoenix, Arizona this coming May.
According to Phoenix Business Journal, the tip came from an anonymous source - although Emily Kress, Fashion Square marketing director, and Ashley Calandra, senior director of public relations at Barneys, confirmed the closing.
The sole Barneys New York store in the state of Arizona first opened at Scottsdale Fashion Square back in October 2009, when the mall added a 100,000-square-foot wing.
It was just as lavish as the notable chains in New York, too: the Arizona location had valet parking and private elevators to access the store. It was initially accompanied by its signature restaurant, Fred's - although it was closed back in 2011.
