IKEA is buying out the lease of its shuttered store at the Rego Park Mall in Queens for $10M.
Rego Park Mall, a two-building 954K SF indoor mall located on Queens Boulevard, is owned by Alexander's, the former department store chain that become a REIT controlled by Vornado Realty Trust.
IKEA's 112K SF store at Rego Park, which opened in 2021 as IKEA's first smaller-format store in the U.S, was closed in December 2022 when the Swedish furniture giant pivoted to a different growth strategy.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.