Target takes 35K sf at 1865 Broadway

Retailer will occupy the base of AvalonBay's new tower

TRD New York /
Oct.October 29, 2018 06:00 PM

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.


Related Articles

arrow_forward_ios
Pier 1 CEO Robert Riesbeck (Credit: Joe Raedle/Getty Images)

Cast away: Pier 1 to liquidate assets, shutter business

Cast away: Pier 1 to liquidate assets, shutter business
Even as the economy begins to reopen, many restaurant and cafe tenants like Chipotle and Starbucks are requesting rent reductions amid projected declines in revenue. (Photos by Roy Rochlin/Getty Images and Alex Tai/SOPA Images/LightRocket via Getty Images)

Major restaurants and cafes seek rent cuts, irking landlords

Major restaurants and cafes seek rent cuts, irking landlords
J.C. Penney CEO Jill Soltau (Credit: Justin Sullivan/Getty Images)

J.C. Penney to close 242 stores in bankruptcy restructuring

J.C. Penney to close 242 stores in bankruptcy restructuring
Andrew Florance, CEO of CoStar (Photo by Jeffrey MacMillan for the Washington Post)

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts
An institutional investor’s sale of a 7 percent stake in an exchange-traded real estate fund reveals deep concerns about the sector. (Credit: iStock)

Mystery investor dumps big stake in real estate fund

Mystery investor dumps big stake in real estate fund
Pedestrians on Russell Street in the popular shopping district of Causeway Bay in Hong Kong in 2019 (Credit: Anthony Wallace/AFP via Getty Images)

Rents along Hong Kong’s top retail stretches are crumbling

Rents along Hong Kong’s top retail stretches are crumbling
Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
Gap CEO Sonia Syngal said the company plans to reopen with fewer Gap brand stores (Credit: Syngal via Marc Piasecki/Getty Images; Cindy Ord/Getty Images)

Pandemic kills some retailers, but others could reboot

Pandemic kills some retailers, but others could reboot
arrow_forward_ios

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

Loading...