Target confirms two smaller-format stores in Philadelphia
A retail real estate firm has confirmed that Target is in the final planning stages for two new stores in the Center City section of Philadelphia.
The two stores will be what the company calls a “flexible format Target,” which has a smaller footprint than a typical Target store and looks to fit into the (mostly urban) neighborhoods in which they are located.
Metro Commercial Real Estate Inc. recently brokered the deals for the new Target stores in Center City. Tom Londres and Steve Niggeman, both principals at Metro Commercial, represented Target in the transactions.
While the two locations, one at 1900 Chestnut Street (about 23,000 square feet) and the other at 1112 Chestnut (about 22,000 square feet), represent smaller versions of the traditional Target store format, Target representatives told Metro Commercial that “guests can walk into a Target store of any shape or size and find great merchandise, helpful team members, clean, bright aisles and incredible value.”
Target had initially called these smaller-format stores City Target and Target Express, but now the company plans to simply call them Target and re-brand existing ones.
The merchandise assortment and services in these locations will offer quick-trip guests items focused on immediate use vs. stocking up, as offered in the larger format Target stores.
Assortments will include smaller pack sizes and items geared toward instant consumption, like grab-and-go sandwiches and fresh food, but will also include merchandise not found at other quick-trip stores including a curated assortment of items in Home and Electronics.
Both locations are currently under construction with planned openings in 2016, according to Metro Commercial.
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