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Urbn Renews 5K SF at 166 Atlantic Avenue for First Anthropologie in Brooklyn
Jed Walentas, CEO of Two Trees; Anthropologie Storefront Emily Assiran/For Commercial Observer; SOPA Images/Getty Images
Retail brand corporation Urbn is keeping a storefront in Brooklyn’s Cobble Hill neighborhood but is swapping out the stores.
Urbn, which owns women’s clothing brands Anthropologie, Urban Outfitters and Free People, has renewed a 4,600-square-foot lease at Two Trees Management’s 166 Atlantic Avenue, according to the landlord.
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Anthropologie, which also sells accessories, shoes and home decor, will take over the space from Urban Outfitters for Anthropologie’s first New York City location outside of Manhattan, Crain’s New York Business first reported. The new Brooklyn store is set to open Nov. 27, according to the outlet.
The length of the renewal and the asking rent were not provided, but a report from the Real Estate Board of New York found retail rents in the most expensive area of Cobble Hill averaged $245 per square foot during the second half of 2023.
Two Trees was represented in-house by Elizabeth Bueno, while McDevitt’s Tim Duffy brokered the deal for the tenant. Duffy and a spokesperson for Anthropologie did not immediately respond to requests for comment.
Two Trees’ building on Atlantic Avenue between Court and Clinton streets was occupied by Urban Outfitters until the store closed this past summer due to a decline in traffic, Crain’s reported.
Anthropologie, which has over 200 stores nationwide and its flagship location at 50 Rockefeller Plaza in Midtown, will use the space to expand its brand into Brooklyn.
Isabelle Durso can be reached at idurso@commercialobserver.com.
166 Atlantic Avenue, Elizabeth Bueno, Tim Duffy, Anthropologie, Two Trees Management, Urban Outfitters, Urbn
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