Goal is taking up one other giant area in Queens.
The massive-box retailer leased 135,000 sq. toes on the Rego Park Purchasing Heart at 61-35 Junction Boulevard within the Rego Park neighborhood, the Business Observer reported. The procuring middle is owned by Alexander’s, an affiliate partly owned by Steven Roth’s Vornado Realty Belief.
The 15-year deal brings the procuring middle to 99 p.c leased, in keeping with possession. The Goal will occupy almost 1 / 4 of the multilevel, 600,000-square-foot open-air mall, which counts Costco an anchor tenant. Different tenants embody Burlington, Finest Purchase, Marshalls, T.J. Maxx, Aldi and Petco.
In 2020, At Residence — the Texas-based house decor superstore — took roughly 130,000 square feet for its first retailer in New York Metropolis. The shop proved to be considered one of dozens closed by the corporate after the corporate filed for chapter final yr.
The asking lease and brokers concerned within the Goal deal weren’t disclosed. The common asking lease for retail leases in Queens is $42.47 per sq. foot, in keeping with CommercialCafe.
The Rego Park location will probably be Goal’s ninth in Queens. The corporate’s most notable current splash was in Lengthy Island Metropolis, the place the retailer leased 31,000 square feet at Savanna’s One Courtroom Sq. in 2021 for a two-floor location.
The Rego Park Purchasing Heart can be known as Rego Park II, to not be confused with the lately bought Rego Park I.
In March, Northwell Well being agreed to accumulate the vacant, 338,000-square-foot Rego Park I advanced from Alexander’s for $235.5 million. The identification of the customer suggests the potential for a significant healthcare conversion, reminiscent of a medical campus or outpatient hub, to broaden entry to care in Queens, although that hasn’t been confirmed.
Roth gained management of Alexander’s within the mid-Nineties after a high-profile possession struggle with Donald Trump. Trump owned about 27 p.c of the corporate whereas Roth held roughly 29 p.c. Trump’s stake was in the end seized by lenders and bought to Roth in 1995 after he defaulted on loans tied to his resort and on line casino properties.
Learn extra
Major home goods chain signs big lease at Rego Center mall
Target is coming to Long Island City
Northwell scoops up vacant Rego Park retail center for $235M
