Target to open new stores on the Upper East Side, Upper West Side
Rendering of the Columbus Circle store planned courtesy of Target
Manhattan will get two new Target stores, adding to the retail giant’s growing New York City footprint. As first reported by PincusCo, the company has signed a 20-year lease for a store at Vornado Realty Trust’s 150 East 86th Street on the Upper East Side and a 15-year lease for space at 795 Columbus Avenue on the Upper West Side, overseen by the Chetrit Group. The two new locations, totaling nearly 80,000 square feet, will be small-format stores, which offer easy pick-up service and grab-and-go products.
The new store at 795 Columbus Avenue, which is located off of 97th Street, will be the second Target planned on the Upper West Side. The company announced plans nearly two years ago to open a small-format location at 61st and Broadway near Columbus Circle. It was scheduled to open in 2019 but is now set to open its doors later this year.
The East 86th Street location, situated between Third and Lexington Avenues, will replace a Barnes & Noble store. The bookstore told Patch that the 86th Street location is “too large, and too expensive” but has plans to return to the neighborhood with a new store soon.
The deal shows some life for retail stores in the city, many of which struggled to stay afloat even before the coronavirus outbreak caused a citywide shutdown. According to the Real Deal, Target continued to pay full rent throughout the crisis to send an “open for business message” to consumers.
There are a number of Target stores in the process of opening across the city. In February, 6sqft learned that the company signed a lease for space at the base of 10 Union Square East, with new stores planned for Times Square and Washington Heights.
Target’s current Manhattan locations are in Tribeca, at Essex Crossing on the Lower East Side, the East Village, Kips Bay, 34th Street-Herald Square, the Upper East Side, and East Harlem.
[PincusCo]
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