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Trader Joe’s is planning to open a big new store in Midtown, reportedly trying to keep it all under wraps so it can catch competitor Whole Foods unawares.
The retailer is looking at space at at the Park Imperial condominium at West 55th Street and Broadway, the New York Post reports. The plan had been to keep the store secret so Whole Foods would be caught by surprise, the tabloid reports.
The space there, previously occupied by a bank, is 12K SF, according to the newspaper, but the new Trader Joe’s will expand into the entire seven-story garage next door. The typical Trader Joe's in smaller than the standard 30K SF to 40K SF footprint of a grocery store. Its Midtown location, if it comes to fruition, could dwarf its typical store size.
A representative for Trader Joe’s said the company is interested in the location, but did not confirm any further details.
The company has 11 locations in the city. In an otherwise ailing retail landscape, food and beverage is doing well in New York City. While e-commerce has impacted much of the global retail landscape, many think grocery stores will ride out the industry disruption better than other types of stores.
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