Target is coming to Washington Heights.
The big-box retailer signed a 15-year lease to take 23,737 square feet at 600 West 181st Street between Wadsworth and St. Nicholas Avenues, The Real Deal first reported.
A spokeswoman for Target said in a statement the store was expected to open in 2020 and “will add to Target’s continued growth in Manhattan.”
Ripco Real Estate’s Richard Skulnik brokered the deal for Target, while colleague Jason Pennington handled it for landlord Maverick Management Corporation. A spokesman for Ripco did not immediately respond to a request for comment.
The Target spokeswoman declined to provide the asking rent, but CoStar Group data lists average asking rents in the two-story retail property as between $120 to $147 per square foot.
The discount-retailer started to roll-out small-format stores—which sell beauty products, snacks, home decor and more—around Manhattan in 2017 opening its first location at 112 West 34th Street in Herald Square.
Target plans to roll out 130 small-format stores around the country and currently have nine planned for New York City, most recently inking a deal in May 2018 for 21,000 square feet at 520 Second Avenue in Kips Bay, as Commercial Observer previously reported.
Other retailers in Maverick’s 53,175-square-foot 600 West 181st Street include Modell’s Sporting Goods, The Children’s Place and discount female apparel shop Rainbow.