Philadelphia, PA - The Center City office of Michael Salove Company Commercial Real Estate is pleased to announce the completion of a lease transaction at 1733 Walnut Street, with a lease value of more than $2 million. Tumi will open in summer 2008, and will occupy 1,067 s.f. on the first floor. Tumi joins Kiehls and Lagos in the AKA Korman Communities building.
Tumi is one of the leading luxury travel, business and lifestyle accessories companies in the world. Founded in 1975, they offer luggage, business cases, handbags, wallets, writing instruments and watches. Tumi has over 60 stores around the world, with plans to continually expand. They are growing and are adding new locations every month.
Laurence Steinberg, Director of the Center City office, and Dana Zamparelli, represented the Landlord in this transaction. According to Mr. Steinberg, “Another excellent tenant for Walnut Street, could Gucci and Louis Vuitton be far behind?” Stanton Brown of Michael Salove Company, in cooperation with Lynne Bremer of Fandel Retail Group, represented the Tenant. “Tumi recognized the strength of being near Rittenhouse Square, and therefore, we specifically targeted the 1700 block and AKA Korman property to further enhance exposure to this international brand,” says Mr. Brown.
Michael Salove Company has its headquarters in Center City Philadelphia. It is one of the region’s preeminent tenant and developer advisory firms, exclusively representing regional, national and international retailers and developers.
