{"id":1004395817,"date":"2020-02-27T07:08:49","date_gmt":"2020-02-27T15:08:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004395817"},"modified":"2020-02-27T07:08:49","modified_gmt":"2020-02-27T15:08:49","slug":"target-inks-lease-at-manhattans-union-square","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/target-inks-lease-at-manhattans-union-square\/","title":{"rendered":"Target Inks Lease at Manhattan\u2019s Union Square"},"content":{"rendered":"<div id=\"attachment_1004395832\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004395832\" data-attachment-id=\"1004395832\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/target-inks-lease-at-manhattans-union-square\/10-union-square-east-image-via-google-street-view\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/10-Union-Square-East.-Image-via-Google-Street-View.jpg\" data-orig-size=\"998,676\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"10 Union Square East. Image via Google Street View\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/10-Union-Square-East.-Image-via-Google-Street-View.jpg?w=998\" class=\"wp-image-1004395832 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/10-Union-Square-East.-Image-via-Google-Street-View.jpg\" alt=\"\" width=\"300\" height=\"203\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/10-Union-Square-East.-Image-via-Google-Street-View.jpg 998w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/10-Union-Square-East.-Image-via-Google-Street-View.jpg?resize=300,203 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/10-Union-Square-East.-Image-via-Google-Street-View.jpg?resize=768,520 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004395832\" class=\"wp-caption-text\">10 Union Square E.<em> Image via Google Street View<\/em><\/p><\/div>\n<p>Retail powerhouse Target has signed a lease for an approximately 33,000-square-foot store at 10 Union Square E. in Manhattan, a mixed-use building owned by Empire State Realty Trust.<\/p>\n<p>In a prepared statement, Fred Posniak, senior vice president for retail leasing, highlighted the location\u2019s close proximity to one of New York City\u2019s busiest subway stations and the approximately 350,000 daily visitors to the neighborhood, including tourists, NYU students and office workers. The property is directly across from Union Square Park and two blocks from the PATH.<\/p>\n<hr>\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/target-aims-for-100-percent-renewable-energy-by-2030\/\">Target Aims for 100 Percent Renewable Energy by 2030<\/a><\/p>\n<hr>\n<p>The mixed-use condominium building at 10 Union Square E. is also known as Zeckendorf Towers and includes retail, office, residential and parking components, as well as a 350-seat not-for-profit theater. The ground-floor retail condo is owned by Empire State Realty Trust and totals about 58,000 square feet.<\/p>\n<p>Richard Skulnik of Ripco Real Estate represented Target in the deal, while Empire State Realty Trust\u2019s Posniak provided landlord representation.<\/p>\n<h2><strong>Shrinking stores, expanding e-commerce<\/strong><\/h2>\n<p>In 2017, Target committed to opening more than 100 smaller-format stores averaging roughly 40,000 square feet and later that year announced the first Midtown store encompassing 43,000 square feet in Herald Square, in a building that was also owned by Empire State Realty Trust.<\/p>\n<p>Just days ago, eMarketer.com reported that Target has jumped from 11<sup>th<\/sup> to eighth place for online sales among U.S. retailers. The platform estimated that Target\u2019s e-commerce business will grow this year by 24 percent, to $8.34 billion.<\/p>\n<p>Empire State Realty Trust also scored recently at its most famous asset. In October, <a href=\"https:\/\/www.commercialsearch.com\/news\/linkedin-boosts-empire-state-building-lease\/\">the company signed LinkedIn<\/a> to an additional three-and-a-half floors totaling 188,563 square feet at the Empire State Building. That deal brought LinkedIn\u2019s presence at the iconic asset to 501,600 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The retail giant leased some 33,000 square feet in a mixed-use, all-condominium building owned by Empire State Realty Trust.<\/p>\n","protected":false},"author":882,"featured_media":1004395832,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1600,21742,10,21749],"tags":[34345,48836,34545],"class_list":["post-1004395817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-new-york","category-latest","category-northeast","category-retail","tag-empire-state-realty-trust","tag-ripco-real-estate","tag-target-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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