Target opens first Manhattan store in East Harlem
New York City Target Corp.’s first store in Manhattan officially opens on Sunday, representing a key step in the retailer’s push to open in urban markets.
The new store, which joins Costco and Best Buy at East River Plaza in Harlem, will offer merchandise tailored to the neighborhood, including Spanish-language greeting cards, multicultural dolls, religious candles and renowned Southern food produced locally.
“This is the (company’s) largest single investment on any single project,” John Griffith, executive VP property development for Target Corp., said during a press tour Wednesday.
Griffith said he expects the new store to produce Target’s strongest return — eventually — and to land among the top five revenue generators of its 1,700 stores.
East River Plaza is developed by Cleveland-based Forest City Enterprises.
In-N-Out Burger to open new location in Tucson
Tucson, Ariz. Commercial Retail Advisors said Wednesday that In-N-Out Burger has signed a 20-year lease with General Growth Properties for a 45,000-sq.-ft. padsite at the Oracle Road entrance of the Tucson Mall in Tucson, Ariz.
A new 3,500-sq.-ft. drive-thru restaurant building will be constructed on the site. Construction is scheduled to start in September with opening planned for first quarter 2011.
This restaurant will be In-N-Out Burger’s sixth within the Tucson area.
Old Navy to open at Magnolia Mall
Florence, S.C. Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said Wednesday that Old Navy has signed a lease to open a store at Magnolia Mall in Florence, S.C.
The retailer will occupy 12,001 sq. ft. at the main entrance adjacent to Ruby Tuesday and will celebrate its grand opening in early November.