New Target Opens at Kings Highway Plaza
A new Target has opened in East Flatbush, alongside outposts of Smashburger and the discount store Five Below.
All three leases are within the Kings Highway Plaza development at 5200 Kings Highway, and were signed during the coronavirus pandemic. They total about 65,000 square feet; another 15,000 square feet at the development has yet to be leased.
RIPCO Real Estate, which Plaza owner Bridges Development Group in the lease negotiations, framed the news as a victory for brick-and-mortar retail, even as online shopping continues to grow.
“With nearly 350,000 residents in the neighborhood surrounding Kings Highway Plaza, the site offers much-needed food and retail access to the local community,” Geoff Bailey, the brokerage’s managing director, said in a press release announcing the opening.
“Smashburger has been performing extremely well since its recent opening and we anticipate great success for Target and Five Below. We are negotiating deals for the two remaining spaces and hope to have more tenant announcements soon.”
Target has expanded its presence in Brooklyn in recent years: an 88,000-square-foot location at the Ceasar’s Bay Shopping Center Gravesend opened in March A Bensonhurst location opened in 2017, and another one in Midwood opened the following year.
Target also has locations at Fulton Street and the Atlantic Terminal Mall in Downtown Brooklyn; the Gateway Mall in East New York; the Flatbush Junction; and on Kings Highway in Homecrest. Another, still-unopened location is planned for Church Avenue in Flatbush.
Kings Highway Plaza was completed in spring 2020, and includes two levels of retail space along with 200 spaces of rooftop parking.
