Savills announced that it represented the Saadia Group in a 40,738 s/f sublease at 275 Madison Avenue.
The New York City based investment firm will leverage the contiguous space as the new headquarters for Lord & Taylor and New York & Company, whose intellectual properties were acquired by the Saadia Group in October of last year. Andrew Zang, an assistant director at Savills, said Jack Saadia, principal and co-founder of the Saadia Group, sought a space for the firm’s recently acquired brands and tapped Savills for a strategic plan that included identifying a location that would allow Lord & Taylor and New York & Company to quickly establish operations while maintaining a New York City presence and accommodating future growth.
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Saadia Group, Lord & Taylor’s new owner, is taking the once-sprawling retail empire, which had anchored a 660,000-square-foot building on Fifth Avenue, and packing it into three floors of a Midtown office.
The investment firm, which acquired retailers Lord & Taylor and New York &…