Target to Open 140K-SF Bronx Location in Bruckner Commons
By Mark Hallum October 27, 2022 1:34 pm
reprints
Target signed a 139,000-square-foot lease at Bruckner Commons in the Bronx to open a new store in 2025, the landlord announced Thursday.
The big-box retailer will operate next to a ShopRite, Marshalls and a Five Below as an anchor tenant of the 510,000-square-foot shopping center at 1948-1998 Bruckner Boulevard owned by Urban Edge Properties, according to the landlord.
Urban Edge did not disclose the asking rent or the length of the lease.
“Bruckner Commons is a great example of how we improve communities by transforming retail properties in densely populated, underserved markets such as the Bronx,” Scott Auster, who represented Urban Edge in-house, said in a statement. “Adding Target to this highly trafficked property secures its position as one of the top retail destinations in the New York metropolitan area.”
Target was represented by Jeffrey Howard of Ripco Real Estate in the deal. Ripco did not immediately respond to a request for comment.
The department store chain’s planned Bronx opening comes as other major retailers plan to close outer borough shops. Ikea recently announced that it would end its 10-year lease with Vornado Realty Trust, signed in 2019, for the 115,000-square foot space at 96-05 Queens Boulevard in Rego Park, Queens.
But while Ikea struggled with a lack of foot traffic to its smaller locations, other shopping centers don’t seem to share the same kind of woes.
In May, At Home signed a 135,000-square-foot lease at Bay Plaza Shopping Center in the Bronx in a former Kmart location at 2100 Bartow Avenue. But At Home also opened another outpost in Rego Park, near Ikea’s soon-to-be former location.
Mark Hallum can be reached at mhallum@commercialobserver.com.
