Cushman & Wakefield announced today that Vans, the original action sports footwear and apparel company, has signed a long-term lease at 1708 Walnut Street. The store is expected to open in Spring 2014, centrally located in the high-end retail district of Center City.
Vans, which also has an area presence in the Willow Grove Park, King of Prussia, Cherry Hill, and Deptford Malls, will occupy approximately 4,000 square feet on the first floor of 1708 Walnut Street. This is Vans first Philadelphia location. Vans will join a number of other contemporary lifestyle brands on Walnut Street like Doc Martens, The North Face, Urban Outfitters, and Burberry. Jacques Ferber Furs, the landlord, will continue to occupy the upper floors of the building from which it once sold outerwear and accessories.
Cushman & Wakefield’s Dominique Casimir Smith and John Wilson (Philadelphia) represented Jacques Ferber Furs. Cushman & Wakefield Executive Director, James Downey and his team (New York) separately represented Vans in the transaction.
Rob Groscup, Director of Real Estate for Vans stated that “Vans is extremely enthusiastic about the opening…this will be Vans first ‘high-street’ location and a model for other similar stores in the U.S.”
Mr. Downey, a Cushman & Wakefield Executive Director affirmed, “Vans is thrilled to be opening in the Center City market and Cushman & Wakefield’s National Retail platform enabled Vans to implement its retail strategy in the vibrant and dynamic market of Walnut Street/Rittenhouse Square.”
Vans is a global retail brand that’s part of the VF Corporation (NYSE: VFC). The Vans collection include authentic footwear, apparel and accessories.
About Cushman & Wakefield
Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and nearly 15,000 professionals. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.