Mayor Mike Spano Joins with Marx Realty to Celebrate Groundbreaking for 130,000 Sq. Ft. Target at the Cross County Center in Yonkers

Share Article

In what is a significant boost for the Yonkers economy, Cross County Center, one of the nation’s first open-air shopping centers, celebrated on March 4th another milestone in its rich 67-year history with the groundbreaking for a new 130,000-square-foot Target.

Rendering of new Target at Cross County Center in Yonkers, NY

“Yonkers has hit the mark! We continue to be a leader and a home to successful national retailers like Target that invest here to further diversify their robust business. As Yonkers welcomes Target, we also welcome more jobs and more opportunities to grow our economy,” said Yonkers Mayor Mike Spano.

In what is a significant boost for the Yonkers economy, Cross County Center, one of the nation’s first open-air shopping centers, celebrated on March 4th another milestone in its rich 67-year history with the groundbreaking for a new 130,000-square-foot Target.

Target, one of the nation’s largest and most dynamic retailers, recently signed a 40-year retail lease. It will occupy space at what was once home to a four-story Sears store that closed in summer 2019. The new Target, which will be the first in Yonkers, is scheduled to open in 2022. The Target lease at Cross County Center was the largest retail lease transaction in the nation last year during the pandemic.

“Yonkers has hit the mark! We continue to be a leader and a home to successful national retailers like Target that invest here to further diversify their robust business. As Yonkers welcomes Target, we also welcome more jobs and more opportunities to grow our economy,” said Yonkers Mayor Mike Spano.

“Congratulations to Mayor Mike Spano and the City of Yonkers on this great addition to Cross County Center. As our local and state economy recovers from the impact of the pandemic, we must work closely with businesses to build back stronger. The addition of Target to Cross County Center will bring in needed jobs, which strengthens the role of workers, increases revenue, and adds a nationally respected retailer to a Yonkers landmark,” said State Senator Shelley B. Mayer.

“Today is an exciting day for the owners of Cross County Center and the Yonkers community. We could not be prouder to be home to the first Yonkers Target, as we continue to offer our shoppers and guests the best experience in shopping, dining and entertainment,” said Craig Deitelzweig, President and CEO of Marx Realty.

In addition to the Target lease, H&M recently signed a 10-year renewal to occupy 28,000 square feet and is currently undergoing an extensive $5 million remodel to incorporate its upscale SOHO concept. H&M, which has been part of Cross County Center since 2009 will re-open later this month.

The Target and H&M leases are the first step in a multi-phase plan for Cross County Center that is focused on expanding the center’s uses. The City of Yonkers has been working in tandem with Marx Realty to craft a multi-phase plan to further enrich the ‘town square’ concept, creating safe and healthy spaces punctuated by a beautiful open-air design.

The 1,150,000-square-foot Cross County Center is jointly owned by Marx Realty and Benenson Capital Partners. The outdoor lifestyle center is located at the intersection of Cross County Parkway and I-87, attracting over 11 million visitors annually from New York, New Jersey, and Connecticut. The Center has attracted many of the top names in retail and dining and includes the first Shake Shack and Zara in the county as well as a growing mix of dining and entertainment options.

About Cross County Center
For over six decades, Cross County Center has been recognized as an iconic retail destination featuring mixed-use, lifestyle elements in a beautiful outdoor setting. Cross County Center features more than 80 specialty stores and restaurants including Macy’s, Zara, H&M, Pandora, Starbucks, Shake Shack, Hyatt Place Hotel and more. Children’s play areas, free parking and seasonal events draw more than 11 million visitors to the outdoor center, year-round. Cross County Center is located at the junction of Interstate 87 and the Cross-County Parkway in Yonkers, NY. For more information about Cross County Center visit http://www.crosscountycenter.com

About Marx Realty
Marx Realty is a division of Merchants National Properties (MNP). Founded in 1915, its current portfolio of properties includes over 5 million square feet of commercial office, retail and residential space as well as five mixed-use projects currently under development. Marx Realty is vertically integrated and involved in all phases of real estate management, development, construction and leasing. The company’s assets comprise 67 properties in 17 states.

About Benenson Capital Partners
Benenson is a leader among privately held operating companies in real estate investment, development, and asset management. Benenson manages 125 properties including retail, office, industrial, multifamily, hospitality and land throughout the United States, Canada and Europe. The company focuses on core, value add, and opportunistic investments across all major property sectors, as well as maintaining its historic leadership in the ownership of single-tenant triple-net leased properties occupied by major corporate tenants. Benenson has long-standing ties to many of the world's preeminent financial institutions including commercial and investment banks, pension funds and insurance companies. The firm is highly regarded as a valued and trusted borrower in regard to a wide variety of financial instruments including construction, permanent, interim, and bridge loans, as well as refinancings. Benenson enjoys a sound, credit-worthy reputation amongst major lenders stemming from its fundamental, long-term investment approach.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Dean Bender
Thompson & Bender
0147621900
Email >
Visit website