Primark to Open 54 KSF Store at Queens Mall – What is a Ground Lease?

, Primark to Open 54 KSF Store at Queens Mall – What is a Ground Lease?, Robert Khodadadian

Primark coming to Queens Center. Image courtesy of Macerich Co.

Primark plans to open its seventh store in a Macerich property. The Irish retail brand is set to occupy 54,562 square feet of multi-level space at Queens Center in the New York CIty borough’s Elmhurst neighborhood.

The firm will join various national brands which list their Queens Center location as among their top-performing, with overall sales at the center topping $1,700 per square foot, according to Macerich.

Located at 90-15 Queens Blvd., the shopping center is positioned at the convergence of Queens Boulevard, Long Island Expressway and Woodhaven Boulevard. Sitting in the middle of a major transportation hub, the location is accessible by car, bus, subway or on foot.

The 967,000-square-foot enclosed regional center rises four stories and is exposed to 20 million annual visits, serving a trade area comprising roughly 2.3 million people, according to the owner’s website. Queens Center features a variety of retailers, including Abercrombie Kids, Apple, Adidas, Champs Sports, Macy’s, Pandora, Sephora and Victoria’s Secret, as well as restaurants including Chick-fil-A, Shake Shack and The Cheesecake Factory.

READ ALSO: How the Pandemic Changed Malls

Primark expands in the U.S.

The addition of Primark is expected to drive significant traffic to the already heavily visited property. According to a recent Macerich release, Zara will also be opening a multi-level location at the property.

With stores already open at Kings Plaza in Brooklyn, Danbury Fair in Connecticut, Fashion District Philadelphia and Freehold Raceway Mall in New Jersey, Primark is set to open more locations at Tysons Corner Center in McClean, Va., and Green Acres Mall in Valley Stream, N.Y.

According to Sourcing Journal, Primark keeps expanding its New York City footprint, the lease at Macerich’s retail center marking the second. Two months ago, the retailer also opened a 49,000-square-foot store at City Point in downtown Brooklyn.

Recently, to meet the demands of curbside pickup and wider shipping needs, retailers have adopted flexible store layouts, expediting store openings while continuing to prioritize physical stores to achieve their real estate goals.

The post Primark to Open 54 KSF Store at Queens Mall appeared first on Commercial Property Executive.

 New York, News, Northeast, Retail, Macerich, Primark 

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