NYSE:ALXRetail REITs
Should Target’s 15-Year Rego Park Lease Shape How Investors View Alexander’s (ALX) Cash Flow Resilience?
Alexander’s, Inc. recently announced it has completed a 15-year lease, with renewal options, with Target Corporation at its 600,000-square-foot Rego Park Shopping Center in Queens, bringing the open-air center to 99% leased with a weighted average lease term of about 9.3 years.
This long-term commitment from a nationally recognized anchor tenant reinforces the property’s tenant mix and underscores the appeal of a dense, urban New York location for big-box retail.
We’ll now examine how...