Target inks lease for 90K sf at Macerich’s Kings Plaza mall

Retailer to take over J.C. Penney location in slew of anchor store replacements

New York /
Nov.November 02, 2021 03:15 PM
Target inks lease for 90K sf at Macerich’s Kings Plaza mall

Target is coming to Kings Plaza (Wikipedia, Target)

Bullseye!

A massive three-level, 90,000 square-foot Target is coming to Kings Plaza in Brooklyn.

The store will replace the former J.C. Penney in the Macerich-owned mall.

“We are exceptionally pleased to welcome a new Target to Kings Plaza, which is a dominant retail destination in this dynamic part of New York City,” Ed Coppola, president of Macerich, said in a statement.

RIPCO’s Jeffrey Howard represented Target in the deal.

A Target representative confirmed the retailer’s plans. It is unknown when the store will open, however, it is listed on Target’s website under future store openings.

Target’s opening adds to a slew of anchor store replacements at Macerich properties. Discount Irish retailer Primark is taking over department store locations in Green Acres Mall on Long Island, Tysons Corner Center in Northern Virginia and Fashion District Philadelphia.

Discount department store Shoppers World has also replaced former Century 21 locations at Green Acres Mall and Fashion District Philadelphia.

Macerich has made similar replacements in the west, too. In May, the retail giant announced a Scheel’s All Sports will replace a former Nordstrom department store at Chandler Fashion Center in Arizona.

The Kings Plaza Target is one of 13 new stores opening in New York in the near future. Among them are locations in Times Square, Union Square and Yonkers.

Target has reported successful earnings in the last year, despite the onset of the pandemic. In a November 2020 earnings call, the retail giant announced it planned to open up to 40 stores a year moving forward. The company has additionally renovated 150 stores this year alone.





    Related Articles

    arrow_forward_ios
    273 Skillman Street, 83 Nostrand Avenue and 1358 Dekalb Avenue with Andrew Farkas of Island Capital (Google Maps, Getty)
    All Year’s massive Brooklyn portfolio in distress, sparking bidding war
    All Year’s massive Brooklyn portfolio in distress, sparking bidding war
    Traffic was up 47.5 percent from last year, when coronavirus restrictions and concerns were more rampant. (iStock, Getty)
    Black Friday retail traffic stuck below pre-pandemic levels
    Black Friday retail traffic stuck below pre-pandemic levels
    Brownstones rule Brooklyn’s luxury market Thanksgiving week
    Brownstones rule Brooklyn’s luxury market Thanksgiving week
    Brownstones rule Brooklyn’s luxury market Thanksgiving week
    Donald Trump (Getty)
    Pandemic dashed one-quarter of Trump’s NYC retail tenants
    Pandemic dashed one-quarter of Trump’s NYC retail tenants
    Clockwise from top left: 2875 Morningside Heights, 38-21 12th Street in Long Island City, 46 Nevins Street in Brooklyn (Google Maps)
    Investors flip NYC industrial, hotel, office buildings in pre-holiday frenzy
    Investors flip NYC industrial, hotel, office buildings in pre-holiday frenzy
    Feil Organization plans 43-story DoBro tower
    Feil Organization plans 43-story DoBro tower
    Feil Organization plans 43-story DoBro tower
    The Collective's Reza Merchant and 1215 Fulton Street in Bedford-Stuyvesant (NLA, The Collective)
    Co-living startup The Collective to lose another Brooklyn development project
    Co-living startup The Collective to lose another Brooklyn development project
    CVS Health shuttering almost 1,000 stores in 3-year pivot
    CVS Health shuttering almost 1,000 stores in 3-year pivot
    CVS Health shuttering almost 1,000 stores in 3-year pivot
    arrow_forward_ios

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

    Loading...