KPG Funds has welcomed its latest occupant at its property of 155 Spring Street in New York.
Mure+Grand is a New York-based boutique that has chosen the location to open its sixth store. The retailer offers jewellery, accessories, clothing, and gifts.
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The chain has locations in Boston and New York City and plans to move into the 1,0922ft space by mid-2023. The asking rent was $450 per square foot for the ten-year deal.
KPG Funds CEO Greg Kraut comments: “Mure+Grand seized the opportunity to join a curated group of retail tenants at 155 Spring. We have established a high-quality asset on Spring Street in Soho, so it was a perfect fit for Mure+Grand’s sixth location.”
Mure+Grand’s CEO Emily Guggino adds: “As a New York brand, it’s always been a dream of ours to open in the iconic neighbourhood of Soho. Thanks to KPG Funds that dream is turning into a reality. We are ecstatic to join their group of tenants and are looking forward to opening.”
KPG purchased 155 Spring Street in early 2023 and has reportedly brought it up to 100% occupancy. The 60,0002ft property was first constructed in 1910 and is home to other retailers such as APM Monaco, Top Drawer Shop, Vera Bradley, and Park West Gallery.
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By GlobalDataThe Soho neighbourhood in New York is a key location for retailers looking to expand their consumer base. Last week, micromobility.com announced the opening of its first physical store in Soho.
