This sophisticated urban infill project was a complete build-to-suit for the tenant, Barneys NY. It required speed, intricate planning, and an ability to balance the interests of multiple stakeholders to accomplish. DMA brought these skills to the client, delivering a six-level, 100,000 square foot luxury retail space that met the tenant’s vision for its new Chicago flagship store.
DMA informed lease negotiation and identified issues that required immediate attention, including realistic and achievable estimates of construction cost per square foot. We developed and managed a fast-track design and construction schedule to meet the aggressive opening date required by the tenant’s existing lease expiration and associated holdover penalties. To jump-start the project schedule, we slashed permitting time by taking advantage of a new city program for green projects.
The project includes a penthouse-level Fred’s restaurant, two green roof areas, two outside roof terraces, and three floors that span a city alley. Designed and built to LEED for Core & Shell standards, the building ultimately provided a significant return on investment. It sold several years after opening for $1,044 per square foot—nearly double the original development cost.
Case Study: Lucrative Lease: DMA Helps Make Barneys New York Deal a Lucrative Success
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