Target Aiming To Build Small Center City Stores

For years, landlords tried to coax Target to open one of its big-box stores in the heart of Philadelphia. Each time they failed, daunted by the difficulty of plunking a store the size of two football fields into a packed downtown.

That chase appears to have come to an end, with a much smaller version called Target Express now looking to make a splash at multiple locations in the hottest pockets of redevelopment near Philadelphia’s core.

Target Corp. is hunting for lease deals in Center City and University City to build what could be as many as four of the new stores, which are about one-sixth the size of a suburban Target.

The goal is to bring the brand to the very Baby Boomers and young professionals who became loyal customers in the suburbs, but who increasingly are moving into resurgent central Philadelphia.

Read more at http://www.philly.com/philly/business/20150109_Target_aiming_to_build_small_Center_City_stores.html#jQsGpabPqVtiiwUp.99

Sears At Pittsburgh Mills Mall In Frazer Closing In January

Pittsburgh Mills (Photo credit: Wikipedia)

Editor’s note:  First Century III, now Pittsburgh Mills…

The Sears store and Auto Center at the Galleria at Pittsburgh Mills mall will close in mid-January, a spokesman for Sears Holdings confirmed this morning.

The closing is part of the company’s strategy to reduce expenses and speed up the transformation of their business model, said company spokesman Howard Riefs.

Read more: http://triblive.com/neighborhoods/yourallekiskivalley/yourallekiskivalleymore/6975322-74/sears-store-mills#ixzz3GLaaXyie
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Cost Of Costco, Whole Foods Project: Tax Plan Adds Up To Small Percentage Of Developers’ Share

Map of Pennsylvania highlighting Lehigh County (Photo credit: Wikipedia)

In the ongoing debate over whether the Hamilton Crossings shopping center should be financed with tax money, a common question is why developers can’t make do without it.

The proposed tax-increment financing plan is expected to stack up between $6 million and $6.5 million for the roughly $140 million project, or less than 5 percent of the total.

Some TIF plan opponents have said the developers, Tim Harrison, of Staten Island, N.Y., and The Goldenberg Group, of Blue Bell, Pa., ought to be able to come up with the relatively small sum without reaching into taxpayers’ pockets.

Read more: http://www.lehighvalleylive.com/lehigh-county/index.ssf/2014/06/tax_plan_adds_up_to_10_percent.html

Costco To Anchor The Gateway At Sanatoga Shopping Center

Image via Wikipedia

Costco is coming to Limerick Township!  The new store will be an anchor in the Gateway at Sanatoga Shopping Center, which is now under construction, next to the Philadelphia Premium Outlets.

According to the website, the center will be 412,000 square feet and feature a Costco, 170,000 square feet of in-line retail space, 6 restaurants, 1 cinema, 2 banks and a hotel.  When combined with the Philadelphia Premium Outlets there will 1,000,000 square feet of retail space, upon completion, at this location.

http://www.oneillproperties.com/pdf/51149-Sanatoga-Fly-Sheet-050709_proof.pdf