Direct-to-retailer supplier moves to Times Square South.
Gus Delaporte 11/05 7:30am
Intradeco Apparel has signed a lease for the entire 16,787-square-foot seventh floor at Normandy Real Estate Partners’ 1370 Broadway, The Commercial Observer has learned.
The apparel supplier will pay rent starting in the mid-$40s per square foot, according to data from CompStak. Asking rents in the building are approximately $50 per square foot, according to listings on TheSquareFoot.
Founded in 1982, Intradeco is headquartered in Miami and operates manufacturing facilities in Central America. The company will relocate its New York sales and design office from nearby 1400 Broadway. A direct-to-retailer supplier, Intradeco counts Walmart, JCPenney, Sears, Target, Carhartt, Tractor Supply and other major retail names among its list of customers.
Acquired by Normandy Real Estate Partners in 2012, the 280,000-square-foot office building at 1370 Broadway is located between 36th and 37th Streets. Since acquiring the building, the landlord has tapped architects MKDA to reposition the building. The renovations include a new glass entry, new revolving doors and new elevator cabs.
Paul Amrich, Neil King and Michael Movshovich of CBRE represented the landlord in the transaction. The brokers did not respond to requests seeking comment.