GVA Williams handles 1,190 s/f lease for Benefit Cosmetics
GVA Williams of Conn. recently handled the signing of an 1,190 s/f lease at 18 Elm St. in downtown, for Benefit Cosmetics. The San Francisco based retailer plans to open in June. The space was formerly a woman's apparel shop.
According to Ron Brien, the GVA broker, who represented the retailer, "New Canaan is the perfect first landing for Benefit Cosmetics, and Elm St. is a great location in town for the beauty boutique."
The site is adjacent to J. Crew and across the street from Ralph Lauren. Lisa Edwards, VP of Benefit Cosmetics, said, "We've been looking at Fairfield County for several years. When we first saw New Canaan we fell in love with Elm St.'s beauty and extraordinary charm. We're thrilled to have found a location on Elm because the street features a collection of fine retail shops and boutiques that attract the sophisticated shoppers of the town and its surroundings, including Bedford and Pound Ridge, N.Y."
Twin sisters, Jane and Jean Ford, created the unique San Francisco beauty boutique with a whimsical candy store atmosphere in 1976. They successfully built Benefit Cosmetics into a global beauty brand with over 1,000 counters in 25 countries.
Benefit Cosmetics is a division of LVMH Group, a world leader in luxury goods with over 60 brands. According to Ron Brien of GVA, "Over the next two years, Benefit Cosmetics plans to open additional stores in such key markets as Manhattan, N.J., Long Island, Boston and Washington D.C."
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.