Target locked in a 15-year, 135,000-square-foot lease at Rego Park Shopping Center, located at 61-35 Junction Boulevard in Queens. Property owner Alexander's confirmed the deal Monday. The lease represents a major retail commitment to the Queens market and underscores continued demand for big-box retail space in the outer boroughs.
For Rego Park residents, the new Target location brings expanded shopping convenience and employment opportunities in a densely populated neighborhood. The store will compete with existing discount and general merchandise retailers in the area, potentially drawing traffic from nearby communities in Queens and eastern Brooklyn.
For Alexander's and the shopping center landlord, the Target anchor lease strengthens the property's financial position and retail lineup. Multi-tenant shopping centers depend heavily on strong anchor tenants to drive foot traffic and support smaller retailers. A 15-year commitment from a retailer with Target's brand recognition provides long-term revenue stability and reduces vacancy risk.
For other retailers leasing space at Rego Park Shopping Center, the Target announcement signals growing tenant confidence in the location. Established anchor tenants typically attract co-tenants and boost overall property values.
The deal also reflects Target's sustained expansion strategy in the outer boroughs, where demographics and population density support the company's store footprint. Queens, with over 2 million residents, remains an underserved market for certain retailers despite having some of the nation's highest retail density in pockets like Astoria and Flushing.
Local commercial real estate specialists note that outer borough retail rents remain lower than Manhattan, making these locations attractive for retailers seeking growth without premium pricing. For landlords like Alexander's, this environment supports higher occupancy rates across their portfolio.
The Rego Park location joins Target's existing New York City presence, though exact details on opening timeline and initial staffing levels were not disclosed in the announcement. The lease