The sports headwear and accessories retailer has signed a new ten-year lease for 1,993sq ft of ground-floor retail space at New York City’s Penn Station, one of the country’s busiest transportation hubs.
Penn Station, which sits at the centre of Vornado Realty Trust’s mixed-use project, dubbed The Penn District, which has included significant investments in office, public space, transit infrastructure and retail. Vornado has developed approximately 1.1 million square feet of new retail throughout the district, including the redeveloped Long Island Rail Road concourse and Penn Station’s main underground passageway, lined with a mix of national and local retailers and dining concepts.
The new Lids flagship will be adjacent to Madison Square Garden, within a district that brings together Penn Station, Moynihan Trail Hall, premium office properties and an expanding collection of retail and dining destinations, including discount retailer Primark, which opened in May.
“The Penn District is an exceptional fit for Lids because it puts the brand directly in front of an enormous and diverse audience of New Yorkers, commuters, sports fans and visitors every day,” said Jesse Wolff, an Executive VP at JLL, which represented Lids in the leasing. “With Madison Square Garden steps away, an average of 650,000 people moving through Penn Station daily, a dynamic mix of tenants across The Penn District and more than 70 new retail and dining additions, this location gives Lids tremendous visibility while putting its products exactly where its customers already are.”
