Target has confirmed that it will open another one of its small-format stores in Philly, this time at the Lincoln Square mixed-use development at South Broad and Washington Avenue.
No, you’re not experiencing déjà vu. This news comes just one week after the retail giant announced that it had signed on for a 47,000-square-foot store at 6th and Spring Garden in July 2018.
The 36,000-square-foot Lincoln Square Target will make it the sixth small-format store in Philadelphia when it opens in October 2018. Metro Commercial Brokers, which has represented Target in all of its Philly deals, said the locations are attractive to the retailer for one big reason: “The six locations are all located in high-traffic, high-density areas of the city where guests can benefit from Target’s small-format stores,” said Steve Niggeman, Metro Commercial’s executive vice president.
Plans for the 286,170-square-foot Lincoln Square project were first announced in March 2016, a joint venture between Alterra Property Group and MIS Capital. Kimco Realty recently acquired a 90 percent ownership interest in the development, which will bring 322 apartments, a parking garage, restaurants, and retail to the southwest corner of South Broad and Washington.
In addition to Target, there will be a 16,000-square-foot Petsmart. And a historic train shed on the property will be converted into a 32,000-square-foot grocery store. The tenant has not yet been named.
Construction is already well underway at 1000 S. Broad Street.