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Macy’s to open new Bronx location by 2014

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Macy’s to open new Bronx location by 2014

| architecture | November 09, 2011

Department store will open 160,000-square-foot behemoth at Bay  Plaza Shopping  Center. Store will be retailer’s second in the borough.

Attention shoppers: A big new Macy’s is coming to the Bronx. The Cincinnati, Ohio-based department store chain has signed on for 160,000 square feet at the Mall at Bay Plaza, a site under construction at the Bronx’s Bay Plaza Shopping Center.  The store, expected to open for business by spring of 2014, will take up three floors and be connected to an existing 150,000-square-foot JC Penney, which is currently open on the ground floor of the center.

The new Macy’s will “deepen our presence in the diverse and densely populated New York marketplace,” said Ron Klein, chief stores officer at Macy’s, in a statement. The 850-unit chain currently has one store in Manhattan, two in Brooklyn, three in Queens and one in the Bronx’s Parkchester section. Mr. Klein noted that the new outpost will sell merchandise tailored to the needs of the Bronx neighborhood. Construction is slated to begin this spring.

Developer Prestige Properties is currently in the process of leasing the remaining 470,000 square feet of the Mall at Bay Plaza, which will include a 1,800-car parking garage. Asking rents for the shopping center range from $100 a square foot to $200 a square foot.  Prestige Properties is spending about $270 million to develop the Mall. The new construction is expected to create over 1,700 permanent jobs for the area. As part of the existing Bay Plaza Shopping Center, the Mall will bring the center’s total size to 2 million square feet.

On Wednesday, Macy’s, which recently announced it will be spending $400 million to renovate its existing Herald Square flagship, released third quarter earnings. The store raked in a net income for the quarter of $139 million, versus $10 million in the year-earlier period. Sales totaled around $5.85 billion, a 4% rise from last year. Same-store sales, an important measure of a retailer’s health, were up 2.2% in October.

Source: Crain’s New York Business

 

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About the author

After working at various design practices on a full-time and freelance basis, and starting his own design firm, David McFadden saw that there was a gap to be filled in the industry. In 1984, he created an expansive hub for architects and hiring firms to sync up, complete projects, and mutually benefit. That hub was Consulting For Architects Inc., which enabled architects to find meaningful design work, while freeing hiring firms from tedious hiring-firing cycles. This departure from the traditional, more rigid style of employer-employee relations was just what the industry needed - flexibility and adaption to modern work circumstances. David has successfully advised his clients through the trials and tribulations of four recessions – the early 80’s, the early 90’s, the early 2000’s, and the Great Recession of 2007.

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