Target Signs Lease In Brooklyn For Building With No Plans Yet On File
Target’s latest location within the five boroughs will be in Midwood, Brooklyn.
The retailer has signed a 38k SF lease at 1715 East 13th St, near Kings Highway. The lease is good for 10 years, and has options for two five-year extensions.
The future retail store sits on a site that’s currently used as a parking garage and owned by a JV between Infinity Real Estate and Nightingale Properties. That partnership picked up the site, along with a nearby 230k SF property, for $79M, according to The Real Deal.
So far, no applications for construction have been filed with the Department of Buildings. Assuming a building does get built to house it, the lease would be for Brooklyn’s fourth Target. It's not far from the 308-unit multifamily development from Hampshire Properties also coming to Midwood. [TRD]