Centric Brands has signed a 10-year office lease with Empire State Realty Trust for 212,154 square feet on the entire fourth floor and parts of the fifth and sixth floors. The direct deal keeps the lifestyles brands company at its existing headquarters. Asking rent was in the low $50s per SF.
- Backdrop: The company – which sells products under licenses for Calvin Klein, Nautica and Tommy Hilfiger — previously subleased about 300,000 SF in the building from Global Brands Group, but gave back some of the space to save money because it wasn’t using all of it.
- Worth Noting: In May, Centric Brands — filed for Chapter 11 with about $1.7 billion in debt. Last week, it exited bankruptcy backed by Blackstone Group and after shedding $700 million of its debt. [CO]