Tiny Target coming to Tribeca

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

New York /
Nov.November 13, 2015 08:37 AM

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


Related Articles

arrow_forward_ios
Floor & Decor CEO Thomas Taylor and 4 Henry St in Commack (Floor & Decor and Google Maps)
Floor & Decor moving into site of shuttered Target in Commack
Floor & Decor moving into site of shuttered Target in Commack
Alchemy ABR’s Kenneth Horn and Brian Ray with a rendering of 258-278 Eighth Avenue (Alchemy ABR, JJ Operating)
Alchemy-ABR secures $183M loan for Chelsea mixed-use project
Alchemy-ABR secures $183M loan for Chelsea mixed-use project
Many people are excited for shoppers to return, but many have switched to e-commerce. (Getty)
Is e-commerce king? Retailers reflect on pandemic changes during earnings calls
Is e-commerce king? Retailers reflect on pandemic changes during earnings calls
Target CEO Brian Cornell. (Getty)
Internet, shminternet: Target adds, renovates stores as money pours in
Internet, shminternet: Target adds, renovates stores as money pours in
As of November, Target had 1,897 stores nationwide. (iStock)
Target’s expansion continues with takeover of old Kmart stores
Target’s expansion continues with takeover of old Kmart stores
(Photo illustration by The Real Deal)
Here are Manhattan’s priciest retail leases of 2020
Here are Manhattan’s priciest retail leases of 2020
Target COO John Mulligan (Getty)
Target to open 40 new stores a year; Q3 income jumps
Target to open 40 new stores a year; Q3 income jumps
A rendering of Target at 615 10th Avenue (inset) with Target CEO Brian Cornell (Target, Google Maps, Getty Images)
Target to open new Hell’s Kitchen store by year end
Target to open new Hell’s Kitchen store by year end
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...