Target signs 29K lease with Jemal family in Chelsea

Target Corp., as tenant, signed a memorandum of lease with landlord the Jemal family through its entity 278 Eighth Realty LLC for 28,799 square feet in 1 parcel, including the tax class two-story or store and office (K2) at 258 Eighth Avenue in Chelsea. The memorandum was signed on November 19, 2020 and was recorded on November 24, 2020
The property contains a total of 39,500 square feet of built space.
The signatory for JJ Operating was Samuel Jemal, and for Target it was James Tucker. The lease is for 28,799 square feet, though the document does not specify on what floors. The lease is for 15 years of initial term, with four extension options of five years each. The last time the property sold was August 8, 2017 for $107,250,000. A portion of the ground floor retail space had been leased by the Gap, which announced in 2019 that it would the close the location.

Direct link to Acris document. link