SRS Real Estate Partners announces that Gap Inc. has leased 17,448 square feet at 125 Main Street in Westport, Conn. Patrick A. Smith, Christa Minogue and Erin Grace, CCIM, of SRS’ New York office represented the landlord, 125 Main Street Associates, LLC. The transaction represents a consolidation of all of Gap brands (Gap, Gap Kids, Gap Baby) into one location and a new long term commitment to downtown Westport. The landmark redevelopment of 125 Main Street is well underway with Gap, a planned expansion and long term lease renewal with Brooks Brothers Women and additional retail and boutique office space. The project should be completed in Fall 2011 with Gap opening soon thereafter.
“We are very pleased with the economic resilience shown by the Westport market. It has fared well through the recession and tenant demand is strong. Consolidating three stores into one at our property, the Gap has confirmed our investment philosophy that the street retail markets of Fairfield County are a thriving and vibrant opportunity for investment,” said Christopher M. Conlon, Senior Vice President, Leasing and Development, Acadia Realty Trust, the landlord in this transaction.