Commercial Real Estate & Advisory

Closet Company Fits In

January 31, 2007

California Closets, the custom closet franchise company with 156 locations worldwide, signed a 10-year lease for the retail space at 26 Varick Street at the corner of Beach Street in TriBeCa.

Roxanne Betesh, vice president, and Kristin McCann, director, of Sinvin Realty, represented the landlord, 19 Beach Retail Partners, LLC, as exclusive agents for the property. Jay Gilbert of Newmark Knight Frank represented the tenant.
“26 Varick is adjacent to Decorator’s Row on Hudson,” said McCann. “The California Closets store will fit right in with stores like Pompanoosuc Mills, Design Within Reach, Baker, Abhaya, Just Scandinavian, and others that are close by.”

This prime space totals 3,545 s/f in size. The 1,700 s/f ground floor features 18-foot ceilings. There is a 930 s/f mezzanine and a 915 s/f basement. The corner triplex with dramatic all glass storefront has 83 feet of wraparound frontage. Exact terms were undisclosed but the asking rent was $180,000 per annum.
California Closets is a franchise company that has pioneered custom storage solutions since 1978 and is known for innovative design. It is now the fastest growing and most profitable franchise in the custom closet industry.