Target has signed a retail lease for over 27,000 SF of space at Aurora Capital Associates and Alex Adjmi’s 600 Broadway in Soho, PincusCo first reported. This marks the 11th New York location that Target has taken over in the past 14 months.
- Worth Noting: Abercrombie & Fitch, the parent company of former tenant Hollister, is locked into a 20-year lease that expires in 2028. The retailer left the space years ago, but agreed to pay millions of dollars in rent for the vacant space, TRD noted. It’s unclear how this lease affects that arrangement.
- Expansion plans continue: The retail giant has seen a record year amid the pandemic. In its most recent earnings call, the company announced plans to open up to 40 stores a year moving forward. Target is currently planning to open locations in Chelsea, Yonkers, Times Square, and Washington Heights.
- Brokers: Ripco Real Estate’s Richard Skulnik represented Target in the deal. [TRD+PincusCo]