Benefit Cosmetics To Open New Store At The Historic Times Building
Dublin, August 2016 – CBRE announced that Benefit Cosmetics has recently opened a new 2,124 sq.ft. store in Dublin having agreed a new lease at Unit 6, The Times Building, owned by Kennedy Wilson Europe Real Estate Plc. Benefit Cosmetics LLC is a manufacturer of cosmetics founded and headquartered in San Francisco, California which sells at over 2,000 counters in more than 30 countries. It is a subsidiary of LVMH.
Benefit Cosmetics was founded in the mid-1970s by twin sisters Jean and Jane Ford. With over 1,400 locations all over the world, Benefit BrowBar beauty lounges are feel-good spots dedicated to beauty services for all kinds of women.
Julie Strang, Managing Director Ireland commented “Lipstick, lashes + Leases: Benefit Cosmetics have just launched their second one stop beauty shop on Fleet Street, Dublin. This pink parlour offers innovative products to solve every Irish gals beauty dilemmas and services to wax, tweeze primp and please!
Benefit Cosmetics are the tenants with TINT-itude and have set up the ultimate store to Wow your Brows on Fleet Street. You have heard of #BrowsOnFleek ….well now it’s time for #BrowsOnFleet!”
Benefit Cosmetics has agreed a new ten year FRI lease, with a break at five years, at a rent of approx. €30,000 per annum excl. The Times Building, located on D’Olier Street, Dublin 2, is named after its once longstanding occupant, The Irish Times, and comprises 51,000 sq.ft. of office accommodation with 7 ground floor retail units, where tenants include Medley and House of Colour hair salon. The property was restored in 2010 retaining many of its original features, including neo-Georgian facades.
Bernadine Hogan, Senior Director of letting agent CBRE, commented, “Benefit Cosmetics is a fantastic, popular, fun brand and is a perfect fit for our plans for the other retail units in The Times Building. We have seen tremendous interest from new dynamic occupiers, which was our main target and we should be confirming more exciting occupiers shortly.”
Kennedy Wilson Europe Real Estate purchased The Times Building last year and together with its agent, CBRE, has targeted retailers who will complement each other and provide a high quality retail destination in the centre of Dublin.
Alison Rohan, Head of Ireland for Kennedy Wilson Europe, commented, “the addition of the hugely popular Benefit Cosmetics to this landmark building makes The Times Building a destination of choice for consumers in the heart of the City. The area already boasts high footfall and this is set to grow further once the LUAS cross city project is complete. I have no doubt that Benefit Cosmetics and other premium brands we continue to attract will thrive in this historic location.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.