The Real Deal New York

Tiny Target coming to Tribeca

Big box retailer will open 45K sf small format store next year

November 13, 2015 08:37AM

255 Greenwich Street Target

From left: 255 Greenwich Street in Tribeca and a rendering of the future Target at the location (credit: Target)

Target is thinking big in Tribeca by thinking small.

The national retailer will open its first small format store in Manhattan next year, at a two-story, 45,000-square-foot location at 255 Greenwich Street.

The store will be about a third the size of a regular, suburban Target store. It will feature more city-appropriate home goods as well as a wider range of grab-and-go food options for the neighborhood’s time-poor office workers. It will also offer in-store pick-up of items ordered online, Fortune reported.

Asking rents at the 600,000 square-foot office building, owned by Jack Resnick & Sons, are around $60 per square foot, according to the landlord.

Target previously announced it would also open another small-format store in Brooklyn in 2016. The company also has a traditional big-box outlet location at 517 East 117th Street in East Harlem.

The company operates 18 small locations nationally and plans to add eight more in 2016. [Fortune]Ariel Stulberg