Salvatore Ferragamo & Ermenegildo Zegna Lease Renewal & Expansion at 645 N. Michigan Ave. Announced by Feil Org
Salvatore Ferragamo and Ermenegildo Zegna Lease Renewal and Expansion at 645 North Michigan Avenue Announced by The Feil Organization
Chicago, IL – August 20, 2012 – The Feil Organization is proud to announce ground floor lease renewals and expansions up to the second floor with well-known retail establishments Salvatore Ferragamo and Ermenegildo Zegna Boutique at 645 North Michigan Avenue in downtown Chicago.
Both Salvatore Ferragamo and Ermenegildo Zegna have occupied ground floor retail space at 645 North Michigan Avenue and Erie Street since 1997. Positioned on one of the most exciting corners in Chicago’s largest shopping district known as the “Magnificent Mile”, both esteemed retail institutions have experienced tremendous success since their opening. This continued success has resulted in the remodeling and two-level expansion of their ground floor flagship stores, taking them up into the second floor of 645 North Michigan Avenue to increase their presence in the building and on the avenue.
“We are extremely pleased that both Salvatore Ferragamo and Ermenegildo Zegna have decided to remain and expand their flagship space at 645 North Michigan Avenue”, said Brian Feil, Vice President of Leasing at The Feil Organization. “I am confident that both the outstanding location of the building and its exemplary management have led to a long-term commitment from two of our most prominent tenants.”
Salvatore Ferragamo S.p.A. is the parent company of the Salvatore Ferragamo Group, one of the world's leaders in the luxury goods sector and whose origins date back to 1927. The Group is active in the creation, production and sale of shoes, leather goods, clothing, silk products and other accessories, as well as women and men's perfumes. The Group's product range also includes eyewear and watches, manufactured by licensees. Attention to uniqueness and exclusivity, with a perfect blend of style, creativity and innovation enriched by the quality and craftsmanship of the 'Made in Italy' tradition, have always been the hallmarks of the Group's products. With over 3,000 employees and a network of 590 single‐brand stores as of 31 March 2012, the Ferragamo Group operates in Italy and worldwide through companies that allow it to be a leader in European, American and Asian markets.
Ermenegildo Zegna founded his company in Italy in 1910 and quickly gained a reputation for producing fine quality wool suits. As one of the biggest global producers of fine fabrics, Ermenegildo Zegna has been active in promoting improvements in wool production around the world. The company is now known for producing made-to-measure and ready-to-wear men's suits, fabric, accessories, shoes, neckties, knitwear, shirts, and sportswear, as well as small and large leather goods. Today there are 557 Ermenegildo Zegna stores (311 company-owned) in 87 countries around the world.
Built in 1962, 645 North Michigan Avenue is an eleven-story building located at East Erie Street in the heart of Chicago’s “Magnificent Mile”, a 13-block stretch with premier shopping, dining, landmarks, hotels and entertainment venues including Nordstrom, The Drake Hotel, Harry Caray's Italian Steakhouse, The Art Institute of Chicago and more. The building houses both retail and professional businesses and experiences a high level of residential and tourist traffic. Other tenants in the building include R.S. Johnson Fine Art, Tumi Luggage and Northwestern University.
645 North Michigan Avenue is owned by New York-based investment groups 645 North Michigan LLC and Nakash 645 North Michigan LLC. The building is managed by The Feil Organization, a privately held commercial real estate firm headquartered in New York City. A powerful force in real estate for over 50 years, Feil owns and operates a nationwide portfolio of over 26 million square feet of retail and commercial space, and over 5,000 residential rental units. In addition to 645 North Michigan Avenue, Feil also manages Chicago’s 10 South LaSalle and North Riverside Park Mall just outside of downtown Chicago. In addition to their Chicago locations and New York headquarters, the organization maintains regional offices in New Orleans, LA; St. Petersburg, FL; and on Long Island in Levittown, NY.
Brian Feil and Ken Hanson represented The Feil Organization; Robert H. Gibson of Cushman & Wakefield represented Salvatore Ferragamo; Joan Siegel of Siegel Consultants, Ltd. represented Ermenegildo Zegna. Thomas R. Field of Edwards, Wildman, Palmer LLP provided legal representation for Feil; Richard Berney of Cozen O'Connor represented Salvatore Ferragamo; Cleary Gottlieb Steen & Hamilton represented Ermenegildo Zegna.
Inquiries should be directed to Brian Feil, Vice President of Leasing at The Feil Organization, 212.563.6557 x213 (firstname.lastname@example.org).