Sportswear retailer Lids is expanding its presence in New York City with a new branch in Pennsylvania Station in Midtown Manhattan. Lids, known for selling sports caps, jerseys and fan merchandise, has signed a ten-year lease for a 1,993 square foot space within the transport hub managed by Vornado Realty Trust.
According to tenant advisor JLL, Lids is the largest licensed sportswear retailer in North America with over 1,300 stores. Negotiations for the lease were conducted by Jesse Wolff and Elijah Mehl of JLL, and Spence Mehl of RCS Real Estate Advisors on behalf of Lids. Vornado was represented in-house for this deal.
Strategic Location Choice in the Penn District
Jesse Wolff of JLL commented on the choice of location, emphasising that the Penn District represents an exceptional choice for Lids. The location places the brand directly in front of an enormous and diverse audience of New Yorkers, commuters, sports fans and visitors. The proximity to Madison Square Garden, an average daily commuter volume of 650,000 people at Penn Station, a dynamic mix of tenants throughout the Penn District, and over 70 new retail and dining establishments offer Lids immense visibility and position its products exactly where customers already are.
The requested rent was not disclosed. However, data from CBRE shows that the average asking rent for retail space in nearby Herald Square was $403 per square foot in the third quarter of 2026. The exact location of Lids within Penn Station was not announced. Vornado declined to comment, and Lids' parent company, Fanatics Inc., did not immediately respond to a request for comment.
Diverse Retail Offering at Penn Station
Penn Station, which opened in 1910, already houses a number of other retailers and food and beverage establishments, complementing the diverse offering for travellers and visitors. This variety contributes to the attractiveness of the location.
- —Birch Coffee
- —Moleskine (stationery shop)
- —Rains (outdoor lifestyle brand)
