Replacing the now vacant Toys ‘R’ Us and Babies ‘R’ Us spaces
Target has agreed to lease a 90,000-square-foot, two-story space at the Caesar’s Bay Shopping Center in Gravesend. The retailer will replace the vacancy left by Toys ‘R’ Us and Babies ‘R’ Us.
Creative deal: The owner took back 12,000 square feet of Kohl’s storage area on the second floor to optimize the space. Other tenants include Best Buy and Modell’s.
Flashback: Gazit Globe paid $48.8 million for a 41 percent stake in the outdoor shopping center in June 2018, which included a 50 percent voting interest, according to the NYPostwho reported the deal. Surrey Equities owns the remainder of the 294,075 square-foot property.