CHICAGO, IL - Target will be building two new TargetExpress locations in Chicago, further expanding the smaller store concept which has been an important source of growth for the company. The two sites are currently expected to be built in Lakeview and Steeterville. According to Chicago Real Estate Daily, the Lakeview store is expected to span as much as 30,000 square feet, while the second, smaller Steeterville location will clock in at around 24,000 square feet. In contrast, the average Target full sized store covers 130,000 square feet.
As retailers further expand into more highly populated urban sectors, the small store concept has allowed companies like Wal-Mart and Target to make the most of the limited real estate available.
“I think retailers are doing this now because they have to,” said Neil Stern, Senior Partner at the Retail Consultancy Firm, McMillan/Doolittle LLP. “If you're going to figure out how to grow, you're going to have to figure out how to be opportunistic in scaled-down formats.”
To compensate for the scaled down selection in smaller stores, the company reveals that TargetExpress is positioned to cater to the needs of the on-the-go consumer.
“TargetExpress is designed so guests can get what they need and get out quickly,” Kathryn Tesija, Executive Vice President and Chief Merchandising and Supply Chain Officer at Target, told Chicago Real Estate Daily.
As AndNowUKnow earlier reported, Target will also be opening new TargetExpress stores in San Diego and the Bay Area in California.
As of this time, no word has been release as to when these new stores are expected to open. When Target does disclose this information, however, you can count on AndNowUKnow to bring you the news first. Stay tuned.
