{"id":39204,"date":"2024-07-08T07:38:11","date_gmt":"2024-07-08T04:38:11","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=39204"},"modified":"2025-03-25T14:40:13","modified_gmt":"2025-03-25T11:40:13","slug":"ikea-plans-new-manhattan-retail-space-fifth-avenue","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/ikea-plans-new-manhattan-retail-space-fifth-avenue\/","title":{"rendered":"Third Time\u2019s The Charm? Ikea Makes Third Try for New York Location"},"content":{"rendered":"

Ingka Investments \u2014 the investment arm of Ingka Group that owns the majority of Ikea stores worldwide \u2014 recently announced that it was joining forces with the Extell Development Company for a new tower in NYC\u2019s iconic Fifth Avenue corridor.<\/p>\n

Located at 570 Fifth Ave. on the corner of West 46th<\/sup> Street, the mixed-use project is a Class A Manhattan office<\/a> and retail tower that incorporates 1 million square feet and reportedly represents the largest development on Fifth Avenue in more than six decades. At the same time, it marks Ingka\u2019s third attempt<\/a> at a successful Ikea location in the New York City metro. The company will own one-third of the property and make full use of the ground-floor retail component.<\/p>\n

Situated at the intersection of the Grand Central and Plaza districts, the site offers unparalleled access to transportation and is surrounded by world-famous architecture, as well as an abundance of services and amenities. The building design includes 80,000 square feet of prime Manhattan retail space<\/a> arranged across two large cellar levels and features a corner entrance off Fifth Avenue. This space will serve as a new Ikea customer meeting point.<\/p>\n

\u201cWe are excited to share the news of this major investment that boosts our growth strategy across the U.S., a vital market for Ingka Group,\u201d said Peter van der Poel, managing director of Ingka Investments. \u201cInvesting in Fifth Avenue goes beyond just growing our footprint. It\u2019s about changing the way we engage with consumers and playing a part in creating strong, sustainable economies and business communities.\u201d<\/p>\n

In addition to advancing the company\u2019s strategy to adapt its retail operations to shifting consumer shopping preferences and urban growth, this investment also strengthens the joint venture\u2019s focus on sustainability and wellness. In fact, the 570 Fifth Ave. development aims to achieve, at minimum, a LEED Gold certification as its design is based on low-carbon operation principles and high sustainability standards. Drawing on the vibrant energy of Manhattan, this choice of location banks a lot of its estimated future success for both the retail and office space components on its superior accessibility as the intersection is just a three-minute walk from Bryant Park and Grand Central Station.<\/p>\n

Looking to lease retail space in Manhattan or other hot shopping districts? Select any location from the markets listed below or visit the CommercialCafe.com homepage to start your search!<\/em><\/p>\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Retail space for lease in Manhattan<\/a><\/td>Retail space for lease in Los Angeles<\/a><\/td>\n<\/tr>\n
Retail space for lease in Houston<\/a><\/td>Retail space for lease in Chicago<\/a><\/td>\n<\/tr>\n
Retail space for lease in Dallas<\/a><\/td>Retail space for lease in San Francisco<\/a><\/td>\n<\/tr>\n
Retail space for lease in Austin<\/a><\/td>Retail space for lease in Seattle<\/a><\/td>\n<\/tr>\n
Retail space for lease in Charlotte<\/a><\/td>Retail space for lease in Las Vegas<\/a><\/td>\n<\/tr>\n
Retail space for lease in Boston<\/a><\/td>Retail space for lease in Denver<\/a><\/td>\n<\/tr>\n
Retail space for lease in Atlanta<\/a><\/td>Retail space for lease in Washington, D.C.<\/a><\/td>\n<\/tr>\n
Retail space for lease in Miami<\/a><\/td>Retail space for lease in Brooklyn<\/a><\/td>\n<\/tr>\n
Retail space for lease in Irvine<\/a><\/td>Retail space for lease in Philadelphia<\/a><\/td>\n<\/tr>\n
Retail space for lease in Phoenix<\/a><\/td>Retail space for lease in San Diego<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n","protected":false},"excerpt":{"rendered":"

Ingka Group’s investment arm joined Extell Development’s tower at 570 Fifth Avenue, one of the best Manhattan retail space locations, where the company intends to open an 80 K SF ground floor IKEA client meeting point. <\/p>\n","protected":false},"author":48,"featured_media":39205,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,40],"tags":[],"class_list":["post-39204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-retail","wpautop"],"acf":[],"yoast_head":"\nIKEA Invests in Manhattan Retail & Office Tower | CommercialCafe<\/title>\n<meta name=\"description\" content=\"Ikea store owner Ingka Investments partnered with Extell for a new Manhattan office and retail space project on Fifth Avenue.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/ikea-plans-new-manhattan-retail-space-fifth-avenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Third Time\u2019s The Charm? Ikea Makes Third Try for New York Location\" \/>\n<meta property=\"og:description\" content=\"Ikea store owner Ingka Investments partnered with Extell for a new Manhattan office and retail space project on Fifth Avenue.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialcafe.com\/blog\/ikea-plans-new-manhattan-retail-space-fifth-avenue\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialCafe\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-08T04:38:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-25T11:40:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2024\/07\/Manhattan-fifth-avenue-retail-corridor.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1980\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ioana Ginsac\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ioana Ginsac\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/ikea-plans-new-manhattan-retail-space-fifth-avenue\/\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/ikea-plans-new-manhattan-retail-space-fifth-avenue\/\",\"name\":\"IKEA Invests in Manhattan Retail & Office Tower | CommercialCafe\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/ikea-plans-new-manhattan-retail-space-fifth-avenue\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/ikea-plans-new-manhattan-retail-space-fifth-avenue\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2024\/07\/Manhattan-fifth-avenue-retail-corridor.jpg\",\"datePublished\":\"2024-07-08T04:38:11+00:00\",\"dateModified\":\"2025-03-25T11:40:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/48aeaad10a9efc4d927324fcb20632f2\"},\"description\":\"Ikea store owner Ingka Investments partnered with Extell for a new Manhattan office and retail space project on Fifth Avenue.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/ikea-plans-new-manhattan-retail-space-fifth-avenue\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialcafe.com\/blog\/ikea-plans-new-manhattan-retail-space-fifth-avenue\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/ikea-plans-new-manhattan-retail-space-fifth-avenue\/#primaryimage\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2024\/07\/Manhattan-fifth-avenue-retail-corridor.jpg\",\"contentUrl\":\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2024\/07\/Manhattan-fifth-avenue-retail-corridor.jpg\",\"width\":1980,\"height\":1280,\"caption\":\"Perhaps the best location for retail space in Manhattan: the intersection of Fifth Avenue and West 46th Street, just a short walk away from Grand Central\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/ikea-plans-new-manhattan-retail-space-fifth-avenue\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialcafe.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Third Time\u2019s The Charm? 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