Macy’s inks lease at Bronx shopping mall site

TRD New York /
Nov.November 09, 2011 02:16 PM

Macy’s has inked a lease for 160,000 square feet at the Mall at Bay Plaza, a site under construction at the Bronx’s Bay Plaza Shopping Center slated to open in 2014, Crain’s reported. Macy’s will take up three floors at the development, by Prestige Porperties, connecting to an existing 150,000-square-foot JC Penney.

The new Macy’s will “deepen our presence in the diverse and densely populated New York marketplace,” Ron Klein, chief stores officer for Macy’s, said in a statement. Macy’s currently has one store in Manhattan, two in Brooklyn, three in Queens and one in the Bronx’s Parkchester area.

Prestige is currently trying to lease the remaining 470,000 square feet of the Mall at Bay Plaza, for which asking rents range from $100 a square foot to $200 a square foot, according to Crain’s.

Meanwhile, the Macy’s in Herald Square is getting a four-year, $400 million renovation, the company announced last week. The renovation will begin in the early spring and continue through the fall of 2015, and all the while, the store will remain open. [Crain’s]


Related Articles

arrow_forward_ios
From left: Authentic Brands Group CEO Jamie Salter, Simon Property Group CEO David Simon, and Forever 21 CEO Do Won Chang (Credit: Getty Images)

Forever 21’s biggest landlord could become its new owner

A report found that 45 percent of retailer bankruptcies over the past 15 years led to liquidation (Credit: iStock)

For retailers, bankruptcy more likely to end in liquidation

Fairway Market (Credit: Getty Images)

Fairway Market files for bankruptcy, plans to sell stores

(Credit: Getty Images)

Express to close 100 stores, stock jumps 21%

Abercrombie and Fitch CEO Fran Horowitz and an aerial view of 600 Broadway, blocked by 606 Broadway (Credit: Getty Images, Google Maps)

The curious case of 600 Broadway

Ex-Barneys CEO Daniella Vitale (Credit: Getty Images, Google Maps)

Barneys’ lights still on, but workers left in dark

Opening Ceremony founders Humberto Leon and Carol Lim and the brand's Soho location at 35 Howard Street (Credit: Getty Images, Google Maps)  

Opening Ceremony is the latest Soho retailer to close

Town & Country Crossing in Town & Country, MO; The Crossroads in Royal Palm Beach, FL; and Mission Bay Plaze in Boca Raton, FL

Here’s why open-air strip centers are outperforming enclosed malls

arrow_forward_ios
Loading...