The big-box retailer agreed to lease 40,000 square feet at Herald Towers in Herald Square, the New York Post reported. In the fourth quarter, the average ground-floor retail asking rent on West 34th Street was $405 per square foot, according to CBRE. SIGN UPThe lease brings occupancy at Herald Towers to 95 percent. Herald Square has been slow to recover compared to other Manhattan retail corridors like SoHo and prime Fifth Avenue. Herald Towers was once the McAlpin Hotel, but was rebranded after JEMB purchased the property in 1999 for $150 million.