Splendid, the Los Angeles-based clothing chain, has inked a long-term lease on Court Street in Cobble Hill, becoming the latest in a string of national retailers to sign on to the neighborhood, The Real Deal has learned.
The clothier will be setting up shop with 1,100 square feet in the ground floor of 142 Court Street, at the corner of Pacific Avenue, in the next several months, with a plan to be up and running in time for the holiday shopping season.
Evan Schuckman of Schuckman Realty, who is representing both the tenant and building owner, declined to disclose the length of the lease, describing it only as “long term.” The building owner, who Schuckman also declined to disclose, is listed as Court & Pacific LLC, an Englewood, N.J.-based entity, in city property records.
The rent is more than $100 per square foot, Shuckman said, declining to provide more specific information. Other retail chains in the area have been committing to between $60 and $100 per square foot, he said.
J. Crew, Nordstrom Rack and Sephora have all recently set up shop in the neighborhood, and Barney’s Co-op, a discounted version of the designer department store, is on Atlantic Avenue.
“Splendid as well as J. Crew saw Trader Joe’s as the anchor to really build around,” Schuckman said. “Atlantic and Court is really the apex of higher-income Brooklyn residential as well as the density of the prime office market.”
The clothier carries a line of “ultra-comfortable chic,” primarily knit clothing for men and women. Founded in 2002, Splendid currently has 22 locations in the U.S. – including one in Manhattan – and one in Canada. The Cobble Hill shop will be Splendid’s first in Brooklyn.
“Our team is on the phone daily with national retail tenants seeking our advice as to where and what to do to penetrate Cobble Hill,” he added.