Morrell Wine Xchange makes its NY debut

Real Estate Weekly, Sept 8, 2004

The leasing team of Faith Hope Consolo, vice chairman, and Joseph A. Aquino, managing director of Garrick-Aug Worldwide, Ltd., has arranged the leasing of 1035 Third Ave. to an investor group that has licensed the Morrell name.

The licensee will open the first-ever Morrell Wine Xchange store at the nearly 1,000 s/f space, which formerly served as home to Ordning & Reda. The flagship is slated to open in time for the 2004 holiday season.

The Garrick-Aug team, which over the past year has brought Bare Escentuals, Alexia Crawford and Independence Community Bank to the neighborhood, represented both the tenant and the landlord in the 15-year leasing transaction.

"This brand new concept store, which will cater to the middle of the road wine consumer, will be a chain of retail stores offering a high quality, yet friendly retail experience," said Ms. Consolo.

"Its flagship location will sit in the midst of the richest zip code in the city--home to luxury clothing, shoes, accessories and fine dining--luxury across the board. The new store will differ from the famous Morrells restaurant and Morrell Wine Bar & Cafe stores, offering a brand new experience to those who already know its established brand."

According to Mr. Aquino, "This location was chosen for the new concept store because it is close enough to Madison and Fifth to have access to the Upper East Side shopper, but not so far east that merchants become lost amid restaurants as on Second and First. Third Avenue has a mall-like quality that is rarely seen in Manhattan, which is why it is such an ideal spot for this store's launch."

Morrell Wine Xchange's retail neighbors will include bath, body and skincare shops, such as Molton Brown, furniture and home decoration stores, such as Gracious Home and Maurice Villency, and several banks, among others.