SJP Properties Taps Cushman & Wakefield to Head Retail Leasing at 11 Times Square

NEW YORK CITY – SJP Properties today announced that Cushman & Wakefield has been retained to spearhead retail leasing at 11 Times Square, the 1.1 million-square-foot commercial tower located at the southeast corner of 42nd Street and Eighth Avenue. 

Situated in the heart of Manhattan, this Class A, trophy-quality building is currently home to Microsoft, Proskauer, and several other world-class office tenants. The Cushman & Wakefield team will focus on curating an ideal mix of brands and concepts from the entertainment, gaming and food and beverage industries for the building’s available retail space, located at the epicenter of one of the most unique, globally recognizable and highly-trafficked retail submarkets in the world. 

11 Times Square’s retail space is just one block west of where the New Year’s Eve ball drops. It is also located atop the busiest subway station in the entire MTA network, with 65 million riders annually within a one-block radius, and sits directly across from the Port Authority, which services over 225,000 people on an average weekday.  

In addition to the outstanding location, prospective tenants will benefit from the tremendous infrastructure already in place, including multiple kitchen exhaust systems, kitchen and cooking equipment, dedicated HVAC units, vertical transportation including multiple stairs and elevators, and direct loading dock access with dedicated freight.  The retail space also offers tremendous branding and signage opportunities, with LED signs on both 42nd Street and Eight Avenue, in addition to significant additional static and LED signage opportunities along the entirety of the retail frontage and above multiple entrances to the retail space.

The building boasts 24-foot ceiling heights on the ground floor and 18-foot ceiling heights on its lower level and second floor.  A total of 47,892 square feet is available for retail tenants seeking the unprecedented customer base and exposure that Times Square affords.

“The ability of the Times Square submarket to uplift brands is absolutely unparalleled and we’re looking forward to working with Cushman & Wakefield to identify the perfect retail partners that complement and elevate this building and location,” said Zach Freeman, Senior Vice President of SJP Properties. “We’re proud that our current tenants have found a true home at 11 Times Square and, given the amazing neighborhood, we know that the right retailers will also excel here.”

Times Square is one of the world’s most visited tourist attractions, drawing an estimated 50 million visitors annually.  In addition, approximately 330,000 people pass through Times Square daily, while over 460,000 pedestrians walk through Times Square on its busiest days.  Adjacent to AMC Empire 25 and across from Regal E-Walk 4DX & RPX, which are among the highest grossing theater locations in the U.S., 11 Times Square is an exemplary destination for entertainment brands and experiences.

As retail has evolved, sparking the rise of more experiential, creative and cutting-edge concepts like food halls and gaming arenas, retailers nationwide have sharpened their focus on strategically located commercial space in highly competitive submarkets. Times Square remains unmatched in visibility, traffic and service hours, attracting the most prominent and in-demand global brands. 

“We’re thrilled to be working with SJP to bring the highest-quality retail tenants to this unmatched location at 11 Times Square,” said Jason Greenstone of Cushman & Wakefield. “We firmly believe that this location, coupled with the tremendous physical space and branding elements, will attract the most exciting and interesting retail tenants seeking to capture a global audience.” 

The Cushman & Wakefield retail leasing team consists of Jason Greenstone, Alan Schmerzler, Michael O’Neill, Steve Soutendijk, and Sean Moran.

11 Times Square boasts a roster of world-class tenants across finance, technology, law and media, and is among the most technologically advanced commercial buildings ever constructed in Manhattan.

About SJP Properties

Headquartered in New York City, SJP Properties is a vertically integrated commercial and residential real estate developer, investor, asset manager, construction manager and property manager. The expertise of the company’s core in-house team of professionals encompasses the entire development process, from site selection through coordination of tenant move-in for large multi-phase projects, including numerous Class A build-to-suit developments and individual tenant build-outs. Well known for the creation of unparalleled lifestyle-focused developments, SJP’s is committed to meticulous design and engineering development plans that reflect a keen understanding of market demand.

Having sustained an unblemished track record of success, SJP has established relationships with many of the industry’s leading investors and financial institutions, providing unparalleled access to capital. For more information, call 212-335-2200 or visit www.sjpproperties.com.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.