Northern Liberties Is Getting a Target
Target has snagged yet another Philly location for its small-format store expansion, and this time the retailer will plop down in the southernmost reaches of Northern Liberties.
Target has signed a lease for a 47,000-square-foot space at 456 North 5th Street and anticipates opening in July 2018, the Business Journal reports (paywall).
Within the last year, the retail giant has opened two locations in Center City: one 23,000-square-foot store at 12th and Chestnut (the retailer’s first downtown Philadelphia location) and another 22,000-square-foot store at 19th and Chestnut. Target also recently opened a 47,000-square-foot location in Roxborough’s Ivyridge shopping center. In October, Target is also planning to open a 30,000-square-foot location at 20th and Callowhill, formerly the site of Whole Foods.
The flexible format stores are smaller than Target’s typical standalone locations and feature items for immediate use that shoppers can grab on the go. The retailer’s rapid expansion into Philly’s downtown landscape is part of its grand goal to open more than 100 new small-format stores in the next three years.
“Philadelphia is a priority market for Target’s growth with the small-format stores,” Kristy Welker, a Target spokeswoman, told the PBJ. The company signed a lease on the location within 60 days of viewing the site.
The new store will be within a few steps of establishments like Silk City, City Fitness’s Northern Liberties location, Electric Factory, and Trilogy Nightclub.
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