Urban Target

[mgsports]

Target at Ward Parkway Shops and by Oak Park Mall that's not in Bankruptcy and more.

[earthling]

With rumblings that Target may have some kind of 'unofficial agreement' with P&L it still wouldn't be surprising if Target adds another urban core small format location this decade. CVS is not expected to close any locations within Targets. The struggle is ability to compete with the retail side. Target is taking on Amazon via small format stores.

Something to watch over the next year is if Target takes over any CVS leases across US and CVS just operates pharmacy counter. Especially will be interesting to see if Target takes over any stand alone CVS buildings, like at 39th/Main. With CVS struggling on retail side along with Target strategy, a broader partnership seems possible, with perhaps some additional CVS/Target conversions in long term beyond the 10% closure announcement.

[Developersanonymous]

With rumblings that Target may have some kind of 'unofficial agreement' with P&L it still wouldn't be surprising if Target adds another urban core small format location this decade. CVS is not expected to close any locations within Targets. The struggle is ability to compete with the retail side. Target is taking on Amazon via small format stores.

Something to watch over the next year is if Target takes over any CVS leases across US and CVS just operates pharmacy counter. Especially will be interesting to see if Target takes over any stand alone CVS buildings, like at 39th/Main. With CVS struggling on retail side along with Target strategy, a broader partnership seems possible, with perhaps some additional CVS/Target conversions in long term beyond the 10% closure announcement.

don't hold your breath on the Cordish deal. I know there are some guys here connected with them so I will l tread lightly... that they have a reputation of being very hard to work with in brokerage community.

[earthling]

^MAC made the odd parking change for Armour/Main project so that might still be in play. Plenty of candidates with upcoming projects as well. But also wouldn't be surprised if we see more than one urban Target format within RCP corridor this decade given the changing dynamics with both CVS and Target.

[earthling]

Denver added a second small format Target recently.. first in downtown (30K sqft) now one on Colorado Blvd (40K sqft). And another planned E of Cherry Creek.
https://www.denverpost.com/2021/07/17/s ... rado-blvd/

[DColeKC]

With rumblings that Target may have some kind of 'unofficial agreement' with P&L it still wouldn't be surprising if Target adds another urban core small format location this decade. CVS is not expected to close any locations within Targets. The struggle is ability to compete with the retail side. Target is taking on Amazon via small format stores.

Something to watch over the next year is if Target takes over any CVS leases across US and CVS just operates pharmacy counter. Especially will be interesting to see if Target takes over any stand alone CVS buildings, like at 39th/Main. With CVS struggling on retail side along with Target strategy, a broader partnership seems possible, with perhaps some additional CVS/Target conversions in long term beyond the 10% closure announcement.

don't hold your breath on the Cordish deal. I know there are some guys here connected with them so I will l tread lightly... that they have a reputation of being very hard to work with in brokerage community.

100% agree there. They don’t pay market rate rent anywhere. This is some of the reason Cordish won’t be upset if they end up outside the PNL boundaries. The only advantage Cordish has over other downtown landlords is the fact they’ve worked together many times over the years and currently at other locations.

I’m not telling people there’s a deal on the verge of being announced because there isn’t and as you mention, Target is difficult and often aggressive.

[AlkaliAxel]

With rumblings that Target may have some kind of 'unofficial agreement' with P&L it still wouldn't be surprising if Target adds another urban core small format location this decade. CVS is not expected to close any locations within Targets. The struggle is ability to compete with the retail side. Target is taking on Amazon via small format stores.

Something to watch over the next year is if Target takes over any CVS leases across US and CVS just operates pharmacy counter. Especially will be interesting to see if Target takes over any stand alone CVS buildings, like at 39th/Main. With CVS struggling on retail side along with Target strategy, a broader partnership seems possible, with perhaps some additional CVS/Target conversions in long term beyond the 10% closure announcement.

don't hold your breath on the Cordish deal. I know there are some guys here connected with them so I will l tread lightly... that they have a reputation of being very hard to work with in brokerage community.

100% agree there. They don’t pay market rate rent anywhere. This is some of the reason Cordish won’t be upset if they end up outside the PNL boundaries. The only advantage Cordish has over other downtown landlords is the fact they’ve worked together many times over the years and currently at other locations.

I’m not telling people there’s a deal on the verge of being announced because there isn’t and as you mention, Target is difficult and often aggressive.

Where would they be putting this P&L target anyway?

[KCLover]

don't hold your breath on the Cordish deal. I know there are some guys here connected with them so I will l tread lightly... that they have a reputation of being very hard to work with in brokerage community.

100% agree there. They don’t pay market rate rent anywhere. This is some of the reason Cordish won’t be upset if they end up outside the PNL boundaries. The only advantage Cordish has over other downtown landlords is the fact they’ve worked together many times over the years and currently at other locations.

I’m not telling people there’s a deal on the verge of being announced because there isn’t and as you mention, Target is difficult and often aggressive.

Where would they be putting this P&L target anyway?

Maybe the old Bar Louie spot and old Famous Dave spot combined would be enough sq ft? Either that or 14th & Main at the base of four or five light?

[earthling]

Am in NYC for a while and visited an urban Target (14th St near Union Sq) that looks to be about 40K-45K sqft total with 2 floors. Small carts, escalator doesn't allow carts, must use elevator. Paid more attention to items they carry and as expected the largest item was still carry out capable (such as up to a 32" light TV). I've only been to smaller urban Targets up to 20K sqft or so, was impressed to see how much a 40K+ sqft store can carry. Was more than I expected with a lot of grocery items (wouldn't be needed if one goes near Cosentinos). Large selection of drug/personals items not needed either if near downtown CVS. Lots of home goods (lamps to area rugs, kitchen appliances, vaccums, collapsible storage items, clothing, sporting goods, bike gear, etc). A 20K-30K sqft store would be great for downtown loop given they dont need to carry duplicate items already there. If Midtown location a 40K+ store would be nice but smaller could still work given CVS near. I don't think a Plaza location is needed as badly as Midtown/Downtown but could see a 40K+ sqft store but would be better near streetcar line than old movie theater location. Hopefully they'll do a few locations in urban core over time with at least one along streetcar line

Target is planning a Midtown STL 70K sqft store, which sounds more like closer to a full size store with big items for car rather than a true urban format store. A typical surburban full size store is 130K sqft so it's in the middle but would guess given a parking lot they'll carry larger items.

[GRID]

Why is it taking so long for central KC to land a target?

[FlippantCitizen]

https://www.google.com/maps/@40.7301741 ... 384!8i8192

Three of my good friends were living in a groundfloor/basement duplex apartment right adjacent to that Target when it was going in. The contruction noise was terrible. The basement would take on some water in a heavy rain and stand on the tile floor. The guy in the basement level kept some rubber boots near his bed.

[Cratedigger]

Tough start to the year for Target.

The company’s net income fell 52% in the first quarter of 2022 compared to the same period in 2021.

High freight costs have compounded Target’s problems. COO John Mulligan told investors the company underestimated how bad supply chain constraints would be this year, and Target will have to spend $1 billion more on freight in 2022 than it expected to at the start of the year. Widespread covid lockdowns in China have created congestion at Asian sea ports, and rising gas prices have driven up the cost of trucking.

https://qz.com/2167268/target-cant-kee ... ng-habits/