Rendering courtesy of Target
New York City is getting another Target. The retailer announced on Thursday plans to open a small-format store in Times Square, its 10th store in Manhattan. The 33,000-square-foot location will be located at a five-level retail complex on 42nd Street between 7th and 8th Avenues. The property, owned and managed by Tishman Realty, is currently undergoing a $60 million renovation. The 42nd Street shop is expected to open in 2022.
The Times Square Target will feature a smaller, more flexible design than traditional stores. It is part of the company’s plan to bring 130 of these locations to urban areas and near college campuses. According to Target, the small-format stores are stocked with items that match the needs of the community, as well as grab-and-go food options, beauty essentials, and apparel.
The company announced this summer it had opened its 100th small-format location in the U.S. Target, which currently has 22 stores open in NYC, has been expanding quickly across New York City, announcing most recently new stores for Washington Heights, Columbus Circle, Hell’s Kitchen the Upper East Side, and Staten Island.
When the new Times Square location opens, it will be in one of the most pedestrian-heavy stretches of the city. Located within Tishman Realty’s E*Walk complex, which opened in 1999 as part of the revitalization of 42nd Street, the Target store will join the flagship cinema of Regal Entertainment.
As part of the revamp, improvements at the complex include signage upgrades, a high-definition signage cube, and third-party state-of-the-art signage on the remainder of the building.
“The Times Square area boasts over 94,000 passers-by daily and 65 million commuters a year from the nearby subway stations and Port Authority Bus terminal,” Patrick Smith of JLL Retail, part of Tishman’s redevelopment team, said. “The next evolution of E*Walk will showcase the best in retail, entertainment, food, and experience.”
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Editor’s note 12/6/19: This post has been updated to correct the number of current Target stores open in New York City. There are 22, not 17.
Tags : Target
Neighborhoods : Times Square