A Target will replace the former Toys ‘R’ Us and Babies ‘R’ Us spaces at a shopping center in deep Brooklyn.
The store will move into a 90,000-square-foot space across two stories at the Caesar’s Bay Shopping Center in Gravesend, according to the New York Post. Other tenants in the complex include Modell’s, Best Buy and Kohl’s.
Gazit Horizons and Surrey Equities own and manage Caesar’s. They made a deal with Kohl’s to take back about 12,000 square feet of the storage area to make the space on the second floor more attractive, and the owners plan to add 6,000 more square feet for smaller stores moving forward.
Gazit Globe, the parent company of Gazit Horizons, bought a 41 percent stake in Caesar’s last year for $48.8 million from an entity of Toys’ R’ Us.
The store filed for bankruptcy in 2017 but is planning a comeback with a larger focus on technology and e-commerce. [NYP] – Eddie Small