The World's Largest Resource for the Cart, Kiosk, and Temporary Retail Industry
by Adrianne Pasquarelli
CrainsNewYork.com

This holiday season may be the era of the pop-up shop, but some temporary leases are leading to longer term agreements.

Upscale menswear fashion house Kai D., which launched nine months ago, initially signed on for a temporary holiday shop in NoLIta, at 75 Orchard St., between Grand and Broome streets. The 375-square-foot store has been open for about a month. On Thursday, the retailer, which also sells at Neiman Marcus, was able to extend the lease with landlord Dermott Co. for an additional 13 months beginning Dec. 1. Asking rent for the spot is around $100 a square foot.

“It’s always been a dream to have our own shop,” said Aaron Odle, a designer representative for SoHo-based Kai D., which sells utility-inspired clothing ranging in price from $65 to $700. “You really need to be in a space to test it out, and we’ve decided that staying is the right thing to do.”

Kai D. is the latest in a string of retailers converting their pop-ups into real stores as landlords become more desperate to fill vacant spaces. Trendy apparel company The Limited originally signed on for a four-day shop in SoHo, but extended its lease through the end of the holidays. Real estate experts say Limited may even consider a permanent Manhattan location, as it has not sold in the city since 1999.

“Pop-ups are the hottest thing now,” said Elliott Dweck, the Besen Retail broker who negotiated the Kai D. deal.

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