New York, NY
- 1,200,000 rentable sf
Terminal Stores is a 1.2 million square foot iconic brick-and-beam property located in West Chelsea overlooking the Highline Park and Hudson Yards mega-development. The historic property was built between 1891 and 1902 serving originally as a storehouse for the New York Central Railroad. The full-block building, bounded by the 11th and 12th Avenues and West 27th and West 28th Streets, opened in 1891 and once was open to trains transporting freight for large and small merchants. Long after Chelsea’s industrial days, The Tunnel nightclub opened in the building’s brick-walled arcade in the mid-1980s and lasted more than a decade. Today, the connected sections that make up Terminal Stores are now home to Uber Technologies, Inc., L’Oreal USA and architectural firm Grimshaw.
Normandy plans to invest a significant amount of capital into extensively redeveloping the property by improving its interiors and exterior and by accentuating its historic features and adding modern touches. About 500,000 square feet of the building that is now used for storage will likely be converted for other uses such as offices.