Goal is taking up one other giant house in Queens.
The large-box retailer leased 135,000 sq. toes on the Rego Park Procuring Middle at 61-35 Junction Boulevard within the Rego Park neighborhood, the Industrial Observer reported. The procuring heart is owned by Alexander’s, an affiliate partly owned by Steven Roth’s Vornado Realty Belief.
The 15-year deal brings the procuring heart to 99 % leased, in accordance with possession. The Goal will occupy practically 1 / 4 of the multilevel, 600,000-square-foot open-air mall, which counts Costco an anchor tenant. Different tenants embrace Burlington, Greatest Purchase, Marshalls, T.J. Maxx, Aldi and Petco.
In 2020, At House — 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 one among dozens closed by the corporate after the corporate filed for chapter final 12 months.
The asking hire and brokers concerned within the Goal deal weren’t disclosed. The typical asking hire for retail leases in Queens is $42.47 per sq. foot, in accordance with CommercialCafe.
The Rego Park location will likely be Goal’s ninth in Queens. The corporate’s most notable latest splash was in Lengthy Island Metropolis, the place the retailer leased 31,000 square feet at Savanna’s One Court docket Sq. in 2021 for a two-floor location.
The Rego Park Procuring Middle can also be known as Rego Park II, to not be confused with the lately bought Rego Park I.
In March, Northwell Well being agreed to amass the vacant, 338,000-square-foot Rego Park I advanced from Alexander’s for $235.5 million. The id of the client suggests the potential for a significant healthcare conversion, similar to a medical campus or outpatient hub, to develop 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 % of the corporate whereas Roth held roughly 29 %. Trump’s stake was in the end seized by lenders and bought to Roth in 1995 after he defaulted on loans tied to his lodge and on line casino properties.
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