Target has announced plans to open a 43,000 square foot small-format store in Manhattan’s Herald Square, located just west of the 34th Street and Broadway intersection, just one block from Penn Station. Target has signed a lease for the Herald Square small-format store with Empire State Realty Trust.
Projected to open in October 2017, the Herald Square store will be one of 30 stores Target plans to open this year, and will be the company’s third location in Manhattan, joining the Harlem and Tribeca stores. Additionally, Target has previously announced future plans to open small-format stores in Manhattan, including sites in East Village (projected to open summer 2018) and Hell’s Kitchen (projected to open in 2019).
The company is focused on expanding Target’s small-format stores in dense urban neighborhoods, with New York being a priority market for the company’s growth. Target’s flexible store design allows for stores in smaller locations with assortments that are tailored to meet the needs of local guests.
The two-level Herald Square store will have two entrances, one off of 34th Street, and the other off of 33rd Street. The store will feature modern décor elements, including concrete floors, wood plank walls and ceilings, pendant and LED lighting and elevated merchandise assortment displays.
At approximately 43,000 square feet, the Herald Square store location will provide a quick trip shopping experience with a curated assortment mix, including:
- Inspiration and style will be emphasized off of the 34th Street entrance, with apparel and accessories.
- Convenient grab-and-go food and beverage items conveniently located off of the 33rd Street entrance. Additional grocery, including a robust, fresh assortment will be available in the store’s lower level.
- Convenient self-checkout lanes will also be located on the store’s first level.
- Apparel for the whole family
- Stationery and home items dedicated to refreshing small living spaces
- Open market grocery department
- Health, personal care and beauty products
- Services will include a CVS Pharmacy and Order Pickup
In addition to the new store’s robust product assortment, Target’s Order Pickup service – the ability to buy online and pick up in store – will provide guests with the convenience of having their orders ready within one hour for pickup and the security of having online orders shipped to, and held at, the store.
“The addition of the Herald Square store location is exciting for Target as we expand our footprint with small-format stores in Manhattan,” said Mark Schindele, Senior Vice President, Properties. “Not only will we be able to serve the thousands of working professionals that travel through Herald Square each day, but we’ll have the opportunity to showcase Target’s exclusive brands and compelling offers for the many tourists from around the world who shop in this vibrant neighborhood in Manhattan.”
“Target’s new 34th Street location concludes ESRT’s plans for the successful redevelopment of storage space, office, and retail into 90,000 square feet of retail,” said Thomas P. Durels, Executive Vice President and Director of Leasing and Operations for ESRT. “Target joins Sephora and Foot Locker at the best location on the 34th Street retail corridor, which spans from the Empire State Building to 7th Avenue. We are delighted to partner with Target and deliver once again to ESRT shareholders the bottom line results of our embedded growth.”
Landlord representation was provided by Fred C. Posniak and Shanae Ursini of ESRT, along with Joanne Podell, Ian Lerner and Mary Clayton of Cushman and Wakefield. Peter Ripka, Richard Skulnik and Jeffrey Howard of Ripco Real Estate were Target’s broker representation.