SRS Real Estate Partners announces that Urban Outfitters (NYSE: URBN) has leased 9,813 square feet at 20 East Elm Street in Greenwich, Conn. Patrick A. Smith and Erin Grace, CCIM, of SRS’ New York office represented the landlord, SG Greenwich, LLC, in the lease. Stephen Plourde, of The McDevitt Company, represented the tenant, Urban Outfitters. This transaction was the catalyst for the landlord’s redevelopment and repositioning of the former Greenwich Time Building in downtown Greenwich. The store is planned to open in March 2011.
“The tenant’s ability to utilize the existing structure and architecture of a former industrial/office building has allowed the ownership to create a unique and exciting mixed-use project in a market that is historically very supply-constrained,” said Patrick A. Smith, an executive vice president and principal in SRS’ New York office, who represented ownership in the transaction.