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09-13-2013, 06:21 PM #1
Apple Reportedly Finalizing Lease for Retail Store at World Trade Center
Apple is said to be nearing the close of a lease for another retail location in Manhattan. The location of the lease is said to be in an expansive shopping mall which is said to be in the World Trade Center. The planned shopping mall owned by Westfield group already has retailers lined up for about 90% of the first sties to come online according to The New York Post. Apple is just one of the international brands said to be close to finalizing deals with Westfield.
Aside from Apple, the shopping mall owner is said to be closing deals with brands such as Victoria’s Secret, J. Lindberg, Tory Burch, Theory, Michael Kors, Swatch, Abercrombie & Fitch, as well as several other brands. Rent in the location is said to run between $500 and $600 per square foot. Westfield paid the Port Authority $612 million for a long-term controlling interest in a joint venture for retail at the location. The mall will occupy space under three of the towers at One World Trade Center, taking up the lower floors of two towers.
For Apple, the World Trade Center location would mark its fifth retail store in the city of Manhattan. Observers noted that an Apple Store has been expected at this location for roughly two years, due to the size of the mall being built. Furthermore, the World Trade Center is a major transportation hub with PATH trains from New Jersey running through it alongside many other commuters, virtually guaranteeing heavy traffic for an Apple Store located there.
The mall is expected to open in a limited capacity in 2014 with a full opening slated for 2015. Speculation points towards the Apple Store opening at the same time as the mall’s grand opening but that is something we’ll have to wait for more concrete evidence for.
Source: ifoAppleStore, The New York Post
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