Published: September 16, 2010
REI, National Outdoor Retailer, to Open First NYC Location in Historic Puck Building
SEATTLE - (BUSINESS WIRE) - Recreational Equipment, Inc. (REI),
a national retailer providing quality outdoor gear and clothing, today
announced plans to open its first New York City location in the fall of
2011. The Manhattan store will be located in the historic Puck Building
at the corner of East Houston and Lafayette in SoHo, and will bring 100
new jobs to the local community.
The company has leased approximately 14,000 square feet of prime
ground-floor space and 25,000 square feet of below-grade space at the
landmarked property owned by Kushner Companies.
The 39,000-square-foot Manhattan store will serve customers on three
floors and offer the top brands of gear and apparel for a variety of
outdoor activities, including camping, climbing, cycling, fitness,
hiking, paddling, snow sports and travel. The store will also house bike
services on two levels - a quick repair concierge and a full-service
bike shop.
"REI is delighted to find such a wonderful location to serve our
thousands of Manhattan customers who have been shopping with us for
years," said Sally Jewell, REI's president and CEO. "Our new store in
the Puck Building will provide a resource to serve New Yorkers, visitors
and community groups eager to enjoy the great outdoors from bike paths
and urban greenways to wild and scenic destinations around the world."
Offering a breadth of quality products and unmatched product expertise,
REI brings its award-winning REI-branded gear and apparel, as well as
the top brands in outdoor products and clothing, to shoppers eager for
adventure and recreation. For more than 70 years, REI has placed an
emphasis on making it easy for people to get outside, live healthier
lifestyles and take care of natural spaces.
REI is more than a retail store - it also serves as a resource for
information on how to enjoy the outdoors and where to go. In addition to
classes held in the Manhattan store, REI's Outdoor School will offer
locals a variety of outdoor recreation opportunities ranging from
daylong instruction to weekend getaways.
With 2009 sales of $1.46 billion, REI currently operates 112 retail
stores nationwide and two online stores - http://www.rei.com
and http://www.REI-OUTLET.com
- and manufactures its own award-winning
REI brand and Novara
bike products. The new store will join additional Tri-State region
locations in East
Hanover, N.J., and Norwalk,
Conn., which opens next month. Additional Tri-State store locations
are expected to be announced in the coming weeks.
"We are thrilled to welcome such a respected, cutting-edge retailer to
the Puck Building, which has long been an iconic and defining property
in the SoHo marketplace," stated Kushner Companies principal Jared
Kushner. "REI is a strong company with a tremendous following that
offers consumers a truly distinctive shopping experience. That made them
an ideal fit for our property."
Built in 1885 and expanded eight years later, the nine-story Puck
Building was added to the National Registry of Historic Places in 1983
and received designation by the New York City Landmarks Preservation
Commission the same year. Among its current tenants are the New York
University School of Urban Design and the architecture firm Swanke
Hayden Connell.
REI has a strong, successful background in working with historical
structures. Its current Denver flagship location opened in 2000 in the
1901 Denver Tramway building. In addition, REI's downtown Boston store
opened in 2003 in the former Sears Roebuck and Company Mail Order Store,
built in 1929 and listed on the National Register of Historic Places in
1991. In 2005, REI's Bend, Ore., store opened in a former sawmill
powerhouse dating back to 1916 in the historic Old Mill District.
Susan Kurland of CB Richard Ellis represented REI in the long-term
leasing transaction while Lori Shabtai of Winick Realty, together with
Ira Bloom of Kushner Companies, represented the building's owner. While
no deal terms were disclosed, Mr. Bloom noted that 5,000 square feet of
ground-floor retail space at the Puck Building remain available. In
addition, the top three floors of office space at the property will also
be available for lease starting in April 2011.
Stewardship at REI
As part of its commitment to the outdoors, REI partners with local
outdoor and conservation organizations to support volunteerism in taking
care of the outdoor spaces. In 2009 alone, volunteers teamed with REI to
donate more than 107,000 hours to help restore trails, plant trees, and
clean parks and streams.
Over the last two years, REI and The REI Foundation have provided grants
totaling $124,000 to local non-profit organizations. Recipients include
the New
York Restoration Project, New
York-New Jersey Trail Conference, Norwalk
River Watershed Association, Inc., Saddler's
Woods Conservation Association, Peak
Potential and Recycle-A-Bicycle.
The new store gives REI the opportunity to expand these efforts in the
Manhattan community with additional local partners.
Co-op Membership
REI is the nation's largest consumer cooperative, and while anyone may
shop at REI, members
pay a one-time $20 fee and receive a share in the company's profits
through an annual member refund based on their purchases. Earlier this
year, more than $80 million was distributed to more than 3.9 million
active members based on the co-op's 2009 sales. REI members also receive
discounts on gear rentals, in addition to trips and classes offered
through REI
Adventures and REI
Outdoor School.
REI has thousands of active members who reside in Manhattan and travel
across the world. Each of REI's 112 stores nationwide was shopped by a
Manhattan member in 2009.
A Great Place to Work
For 13 consecutive years, REI has been recognized by FORTUNE
magazine as one of "100 Best Companies to Work for in America." Hiring
for the new store will occur approximately three months prior to the
opening, where REI will recruit employees who share a passion for the
outdoors and providing a quality customer experience. More information
about employment opportunities will be available at www.rei.com/jobs.
About REI
REI is a national outdoor retail co-op dedicated to inspiring, educating
and outfitting its members and the community for a lifetime of outdoor
adventure and stewardship. Founded in 1938 by a group of Pacific
Northwest mountaineers seeking quality equipment, REI is committed to
promoting environmental stewardship and increasing access to outdoor
recreation through volunteerism, gear donations and financial
contributions.
About Kushner Companies
A diversified private real estate organization involved in the
ownership, development, redevelopment, and management of office,
residential, retail, industrial, and hotel properties throughout the
county, Kushner Company's extensive real estate portfolio includes, in
addition to the Puck Building, 666 Fifth Avenue as well as the
million-square-foot headquarters building of AT&T's Midwest Region in
Chicago.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6432215&lang=en
REI Public Affairs
Libby Catalinich, 425-301-1782
lcatali@rei.com
or
Rubenstein
Associates, Inc. Public Relations
Steve Solomon, 212-843-8042
ssolomon@rubenstein.com
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