Times Square retail gets a second makeover

Some two decades ago Times Square underwent a radical transformation from New York City’s sin center to its version of Disneyland, a magnet of bright lights of wholesome fare that has become a must-stop for all tourists.
Part of that renaissance was Tishman Realty’s E*Walk, a 240,000-sq.-ft. retail center on the main 42nd Street drag between 7th and 8th Avenues that housed up familiar shops such as Cold Stone Creamery and Dallas BBQ. Now Tishman has announced a complete renovation and rebranding of the property to be headlined by large-format retailers, updated restaurants, and experiential entertainment formats.
The five-level complex will offer anchor spaces ranging between 20,000-50,000 sq. ft., as well as several small tenant configurations. An additional 20,000 sq. ft. of billboard and multimedia signage will add to the street’s neon glow.
To bring about the transformation, Tishman has hired Zyscovich Architects, MG Engineering, and Sensory Interactive. Jones Lang LaSalle will handle the rebranding and leasing.
“To have the opportunity to re-merchandise and implement a strategy for the second evolution of a large retail asset, in this historic entertainment corridor, is very rare,” said Patrick A. Smith, vice chairman of JLL’s retail brokerage.
The block is one of the busiest in America, Avenue, counting 94,000 passersby daily.

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