The Real Deal New York

Target takes 35K sf at 1865 Broadway

Retailer will occupy the base of AvalonBay's new tower
By Meenal Vamburkar | October 29, 2018 06:00PM

Target CEO Brian Cornell and 1865 Broadway (Credit: CityRealty and Getty Images)

AvalonBay Communities has convinced Target to anchor the retail at its new mixed-use tower in Columbus Circle.

The retailer signed a lease for 35,000 square feet at the base of AvalonBay’s 1865 Broadway, according to a statement.

JLL’s Patrick Smith, Matt Ogle, Corey Zolcinski and Erin Grace represented AvalonBay. Ripco Real Estate’s Richard Skulnik represented Target.

The 172-unit residential building has 67,000 square feet of retail space spanning four levels. JLL is the exclusive leasing agent for that commercial space.

The building is slated to open in the first quarter of 2019. AvalonBay purchased 1865 Broadway for $300 million in 2015. The location previously was home to the American Bible Society’s headquarters.

Earlier this year, reports said AvalonBay was looking to offload seven Manhattan buildings in areas including Morningside Heights and Chelsea. The was amid rising apartment prices in the city — and as the firm expands in Brooklyn. That includes a partnership with Muss Development on 1 Brooklyn Bay, a 28-story, 275,000-square-foot mixed-use project at 1524 Sheepshead Bay Road.