The Tie Bar, a Chicago-based men’s accessory shop, plans to open a Philadelphia location on the ground floor of the Beacon apartment building at 16th and Walnut Streets in Center City.
The 900-square-foot shop will fill part of a retail space at the former site of a Lululemon athletic clothing store, said Jason Kramer, who represented the Tie Bar as a broker with real estate services firm Binswanger Management Corp.
The Lululemon store was damaged in January 2015 when bricks from Brown Bros. Harriman & Co.’s six-story former Philadelphia headquarters building next door fell through its roof, injuring three women inside.
The two properties have since been combined to accommodate the recently completed Beacon apartment building, which incorporates the facade of the investment bank’s former home.
The Tie Bar has stores in Chicago, Boston and New York, but had been targeting Philadelphia for expansion, said Kramer, who worked on the deal with Binswanger colleague Josh Haber.
Paige Jaffe and Larry Steinberg of commercial real estate firm CBRE represented the Beacon’s owner, Pearl Properties.