TJ Maxx to open first new store in New York City in over a decade

Off-price department store chain TJ Maxx has signed a new major long-term lease with JEMB Realty to open its first flagship store in New York City in over a decade.

TJ Maxx is set to open a new 40,000 square feet flagship store on the ground and lower levels of Herald Towers. Additional details regarding the flagship store opening date have yet to be announced.

Said to be one of the most “significant retail transactions in Manhattan this year,” the deal marks growing interest in Herald Square as one of the city’s leading retail destinations. “Herald Towers continues to attract best-in-class national retailers seeking scale, visibility, and unmatched connectivity,” said Jacob Jerome of JEMB Realty, who oversaw the deal. 

“We are proud to welcome TJ Maxx alongside Old Navy, further accelerating the resurgence of Herald Square retail and reinforcing the corridor’s role as one of the most important shopping districts in the country.”

Herald Square has seen a strong retail rebound over the past year, driven by increased foot traffic and strong transit access. Over the past ten months, more than 100,000 square feet of retail space has been leased at Herald Towers, with new tenants including Old Navy, TJ Maxx, and Moo Moo Futu.