Search
 
News

IKEA’s Manhattan Store Demonstrates New Retail Strategy

In spring 2019, on the Upper East Side, the Swedish furniture company is launching its first Manhattan store, focusing on dense city centers.

IKEA rendering at 999 Third Ave. Rendering of IKEA “Planning Studio” at 999 Third Ave./ Image provided by IKEA

NEW YORK CITY—As people get older they often downsize, moving from suburbs and into smaller spaces in urban areas. Some retail stores are following this same trend. With Target’s small format stores, now IKEA’s “Planning Studios,” companies are also embarking on a “good things come in small(er) packages” strategy.

At 999 Third Ave., between E. 59th and E. 60th streets on the Upper East Side of Manhattan, IKEA is launching a “Planning Studio.” The new 17,530 square feet store spans three floors. Asking rent at the Zucker Organization’s building was $350 per square foot.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

More from this author

Recommended Stories

NYC-Based ASG Equities Completes Miami Retail Sale

NYC-Based ASG Equities Completes Miami Retail Sale

Natalie Dolce |

The sale of 70-74 NE 40th St. is the last of a three-building retail portfolio sale within Miami’s famed Design District, however New York City-based ASG remains bullish on the region and plans to both maintain and grow its presence there.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.