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High-end Italian fashion retailer inks 2,000-square-foot lease at Ferragamo Building
PALM BEACH, March 31, 2015 — JLL today announced that the firm has inked a 10-year lease with Italian luxury fashion retailer MaxMara to occupy approximately 2,000 square feet on Palm Beach’s iconic Worth Avenue. MaxMara will move a few doors down to 206 Worth Ave., commonly known as the Ferragamo building, a premier 15,036-square-foot, freestanding retail property. MaxMara’s new store will operate alongside premium high-street retailers such as Salvatore Ferragamo, Valentino and Van Cleef & Arpels.
JLL Vice President Scott Sheron and Vice Chairman of Retail Services New York Bob Gibson represented the landlord Ferragamo, and the tenant MaxMara self-represented in the transaction. MaxMara expects to open on or before the Worth Avenue high season kicks off on November 1, 2015.“Worth Avenue is among the best shopping districts in the world, right up there with Fifth Avenue, The Avenue des Champs Elysees, Rodeo Drive and Bond Street, so MaxMara is a great fit with the existing super-luxury tenants in the building,” said Sheron. “As the South Florida economy improves, we expect premium level retailing to further expand in Palm Beach.”
JLL’s Retail Group serves as the industry’s leader in retail real estate services. The firm’s more than 800 dedicated retail experts in the Americas partner with investors and occupiers around the globe to support and shape investment and site selection strategies. Its retail specialists provide independent and expert advice to clients, backed by industry-leading research that delivers maximum value throughout the entire lifecycle of an asset or lease. The firm has more than 90 retail brokerage experts spanning more than 25 major markets, representing more than 440 retail clients. As the largest third party retail property manager in the United States, JLL’s retail portfolio has 350 centers, totaling 67 million square feet under management in regional malls, lifestyle centers, grocery-anchored centers, power centers, central business districts, transportation facilities and mixed-use projects. For further information, visit www.jllretail.com
About JLLJLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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