Bronx Terminal Market
Bronx Terminal Market, also marketed as Gateway Center at Bronx Terminal Market, is a large retail center in the Concourse neighborhood of the Bronx, New York City, located south of Yankee Stadium.
Last updated August 24, 2026
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Overview
Bronx Terminal Market is a shopping and retail complex on Exterior Street in the Concourse section of the Bronx, immediately south of Yankee Stadium and alongside the Major Deegan Expressway. The modern center occupies a site of roughly 17 acres and contains just under one million square feet of retail space, supported by a six-level parking garage with capacity for approximately 2,600 vehicles. Its tenant mix is built around large-format discount, grocery, home-improvement, electronics, furniture, apparel, and wholesale-club stores, making it a significant everyday shopping destination for residents of the Bronx and nearby communities. The name comes from the original Bronx Terminal Market, a municipal wholesale produce market developed during the 1930s. The earlier market was part of New York City's effort to organize commerce for pushcart vendors and food wholesalers. Construction began after years of advocacy, including support from former Bronx Borough President Cyrus C. Miller, and the complex was completed during the administration of Mayor Fiorello La Guardia. The market consisted primarily of modest two-story concrete buildings and became particularly important as a wholesale source for Hispanic foods. A distinctive polygonal building, completed in 1936, included the market name in raised concrete lettering and was designed to contain a bank and accommodation for farmers. Rail cars could also reach the market by barge through a car-float operation. The original market declined during the late 1960s and became a financial burden for New York City. In 1972, developer David Buntzman secured a 99-year lease after merchants sought assistance in preserving the property. Under his control, the market at its height reportedly housed nearly 100 tenants and employed more than 1,000 people. Following extended legal disputes with the city, Buntzman sold his interest to Related Companies for $42.5 million in 2004. The redevelopment also incorporated land formerly occupied by the Bronx House of Detention, a 1937 Works Progress Administration-era facility that had closed in 2000. Most of the old structures were removed, while the Prow Building was retained. Redevelopment under the Gateway Center at Bronx Terminal Market name began in August 2006. The approximately $500 million project created new retail buildings, renovated one historic market-related structure, and linked the principal buildings with the parking garage. The project received a LEED Silver designation for its design and environmental features. Home Depot opened in April 2009, BJ's Wholesale Club followed in August, and the broader center opened to the public in September 2009. Initial tenants included Target, Best Buy, Staples, Marshalls, Bed Bath & Beyond, Raymour & Flanigan, Toys 'R' Us, Burlington's predecessor Rainbow, restaurants, and Chase Bank. The center's tenant roster has changed as national chains closed stores or entered bankruptcy and as new grocery and discount operators expanded. Staples closed its location in 2013 and was replaced by Dollar Discount in 2015. Rainbow was replaced by Burlington in 2012. Toys 'R' Us closed during the chain's 2018 liquidation, with the space later becoming Food Bazaar, which opened in January 2020 and was described as the largest supermarket in the Bronx. Bed Bath & Beyond closed in March 2020, while Marshalls closed in January 2024. Current listed anchors include Target, Burlington, Lidl, Home Depot, Dollar Discount, BJ's Wholesale Club, Food Bazaar, Raymour & Flanigan, and Best Buy. The property was refinanced for $380 million in 2024. Its location is served by nearby subway, Metro-North, and bus connections as well as multiple Major Deegan Expressway exits.
History
The Bronx Terminal Market originated as a municipal wholesale produce market in the southern Bronx. Calls for a Bronx terminal market dated to at least 1914, when former Bronx Borough President Cyrus C. Miller advocated a dedicated facility for food distribution. Construction started before Fiorello La Guardia became mayor but remained incomplete until his administration. As part of a wider program to provide organized premises for New York City's pushcart vendors and food merchants, the city built the principal market complex between October 1934 and May 1935. The original buildings were small, simple two-story concrete structures designed by Samuel A. Oxhandler with John D. Churchill and Albert W. Lewis. A separate polygonal building completed in 1936 was intended to contain a bank and upstairs lodging for farmers; its facade displayed the market's name in large raised letters. The site also supported a distinctive logistics system in which rail cars could be brought to the market by barge. In its mature period, the market became the country's largest wholesale market specializing in Hispanic foods and served a broad network of merchants and food businesses. The complex weakened economically during the late 1960s, and the city began considering demolition. The Bronx Terminal Market Merchants Association sought to preserve the market and approached developer David Buntzman. In 1972, Buntzman obtained a 99-year lease and operated the property for decades. At its peak under this arrangement, the market reportedly had almost 100 tenants and more than 1,000 employees. The lease and redevelopment prospects became the subject of prolonged legal disputes with the city. Buntzman ultimately sold his interest to Related Companies for $42.5 million in 2004. A major redevelopment also involved the adjacent Bronx House of Detention, a 1937 Works Progress Administration project designed by Joseph Freedlander. The jail, later called the Bronx House of Detention, closed in 2000. Related acquired the property and demolished it for the retail project, while preserving selected architectural details. Construction of the new Gateway Center at Bronx Terminal Market began on August 14, 2006, after the project received approval connected to a community benefits agreement. Most former market buildings were removed, except for the 20,500-square-foot Prow Building at the intersection of East 149th Street, Exterior Street, and River Avenue. The redevelopment cost approximately $500 million and produced two principal retail buildings, a renovated older structure, and a six-level garage connecting the main buildings. The project received LEED Silver recognition. Home Depot opened on April 23, 2009, BJ's Wholesale Club opened on August 1, and the remaining center opened on September 12. Early occupants included Target, Best Buy, Staples, Marshalls, Bed Bath & Beyond, Raymour & Flanigan, Toys 'R' Us, Rainbow, restaurants, and Chase Bank. Subsequent changes reflected the wider restructuring of American retail. Rainbow's space became Burlington in 2012. Staples announced its closure in 2012 and shut the store in 2013; Dollar Discount later occupied the premises. StubHub opened a location in July 2013 after litigation blocked a proposed site closer to Yankee Stadium under New York's anti-scalping law. Toys 'R' Us closed during the chain's 2018 liquidation, and Food Bazaar eventually opened in the space in January 2020. The center also hosted the Revolution of Hip Hop museum beginning in December 2019. Bed Bath & Beyond closed in March 2020, and Marshalls closed in January 2024. The listed current anchors are Target, Burlington, Lidl, Home Depot, Dollar Discount, BJ's Wholesale Club, Food Bazaar, Raymour & Flanigan, and Best Buy. Related Companies refinanced the property for $380 million in 2024. The center remains accessible by several subway and bus routes, Metro-North's Yankees–East 153rd Street station, and Major Deegan Expressway exits.
- 2024
Property refinancing
[1]Related Companies refinanced the shopping center in a transaction reported at $380 million.
- 2020
Food Bazaar opens
[1]Food Bazaar opened in the former Toys 'R' Us space, creating a major supermarket anchor.
- 2018
Toys 'R' Us exits
[1]The Toys 'R' Us location closed as part of the chain's liquidation.
- 2013
Staples closes
[1]Staples shut its Bronx Terminal Market store after announcing a broader U.S. closure program.
- 2009
Modern shopping center opens
[1]Home Depot and BJ's opened ahead of the center-wide public opening in September.
- 2006
Redevelopment construction begins
[1]Construction of the Gateway Center retail redevelopment started in August.
- 2004
Related Companies acquires market interest
[1]Buntzman sold his interest in the property to Related Companies for $42.5 million.
- 1972
Buntzman receives long-term lease
[1]Developer David Buntzman obtained a 99-year lease after merchants sought to preserve the declining market.
- 1936
Polygonal market building completed
[1]A distinctive building with the market name in raised concrete lettering was completed for banking and farmer lodging uses.
- 1934
Municipal market construction
[1]The city began building the principal Bronx Terminal Market complex as part of La Guardia-era market reforms.
Products and positioning
A large, transit- and highway-accessible Bronx shopping center focused on value-oriented, necessity-based retail and major-format anchor stores, with a tenant mix serving local households, wholesale shoppers, and visitors to the Yankee Stadium area.
General merchandise · 2009
Target
A large-format Target store serving as one of the center's principal general-merchandise anchors, with apparel, household goods, electronics, groceries, and other consumer products.
Home improvement · 2009
The Home Depot
A major home-improvement anchor offering building materials, tools, hardware, appliances, garden products, and project services.
Wholesale club · 2009
BJ's Wholesale Club
A membership warehouse retailer providing bulk groceries, household products, electronics, appliances, and other value-oriented merchandise.
Supermarket · 2020
Food Bazaar
A large supermarket occupying the former Toys 'R' Us premises, with groceries and fresh-food offerings tailored to the Bronx market. It opened in January 2020.
Consumer electronics · 2009
Best Buy
An electronics and appliance anchor selling computers, televisions, mobile products, entertainment equipment, and related services.
Discount supermarket
Lidl
A discount grocery anchor focused on everyday food, household essentials, and private-label value merchandise.
Off-price apparel · 2012
Burlington
An off-price department-store anchor offering discounted clothing, footwear, home goods, and seasonal merchandise. It replaced Rainbow's space.
Furniture · 2009
Raymour & Flanigan
A furniture retailer offering living-room, bedroom, dining-room, mattress, and home-furnishing products.
Brand decisions
2024
Refinancing of the shopping centerOtherBackground
The operating property continued to be managed as a large multi-anchor retail center after several tenant changes.
Action taken
Related Companies refinanced Bronx Terminal Market in a transaction reported at $380 million.
Aftermath
The refinancing provided a new capital structure for the active retail property.
Refinancing amount. US$380 million (2024)
2018
Replacement of Toys 'R' Us with Food BazaarStrategyBackground
Toys 'R' Us closed during the chain's liquidation, leaving a large anchor vacancy.
Action taken
Food Bazaar was selected to occupy the approximately 77,000-square-foot former Toys 'R' Us space.
Aftermath
The supermarket opened in January 2020 and became a major grocery destination for the Bronx.
2006
Conversion from wholesale market to regional shopping centerStrategyBackground
The historic wholesale market had declined and the adjacent former Bronx House of Detention site became available after its closure.
Action taken
Related Companies began construction of a large mixed-anchor retail project marketed as Gateway Center at Bronx Terminal Market.
Aftermath
The redevelopment replaced most original structures with nearly one million square feet of retail space and a large parking garage.
Development cost. Approximately US$500 million (Completed 2009)
2004
Sale of market leasehold interest to Related CompaniesM&ABackground
After years of operation and legal disputes involving the city, David Buntzman held the long-term market interest.
Action taken
Buntzman sold his interest in the property to Related Companies for $42.5 million.
Aftermath
The transaction enabled Related Companies to pursue a major conversion of the declining wholesale market site into a modern retail center.
Sale price. US$42.5 million (2004)
Recent events
- 2024
Related Companies refinances Bronx Terminal Market[1]
Other
The shopping center was refinanced in a transaction reported at $380 million.
- 2020
Bed Bath & Beyond closes Bronx Terminal Market location[1]
Other
The Bed Bath & Beyond store closed at the end of March 2020.
- 2019
Revolution of Hip Hop opens at Bronx Terminal Market[1]
Product launch
A universal hip-hop museum project opened at the center in December 2019.
- 2018
Food Bazaar replaces former Toys 'R' Us space[1]
Product launch
Food Bazaar announced plans to occupy the former Toys 'R' Us premises and opened the replacement supermarket in January 2020.
- 2012
Staples announces closure of Bronx Terminal Market store[1]
Other
Staples included the Bronx location in a group of U.S. store closures; the site shut in 2013.
- 2009
Home Depot opens at Bronx Terminal Market[1]
Product launch
Home Depot became the first anchor tenant to open in the redeveloped center.
- 2009
Bronx Terminal Market opens to the public[1]
Product launch
The redeveloped shopping center opened broadly in September after initial anchor openings earlier in the year.
- 2006
Gateway Center at Bronx Terminal Market begins major redevelopment construction[1]
Other
Construction began on the modern retail center after redevelopment approvals and a community benefits agreement.
Sources2 sources
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