Target to Open First Store in Manhattan’s Lower East Side

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Target Corporation (NYSE:TGT) is making moves in Manhattan, the company announced.

TargetThe retailer unveiled that it will be adding new locations in the Big Apple, including its first Lower East Side Target store. The location will be a smaller-format store that will be unveiled in March 2018.

The size of the location will be 22,500 square feet, which is roughly one-fifth the size of a regular Target. It will be located on the second level of the Essex Crossing development, with more than 500 rental units located directly above it.

Trader Joe’s will also be in the building. This isn’t Target’s first small-format store in Manhattan–the first such location was rolled out in 2016 in the Tribeca area.

The company also said that it will be testing a new delivery service that will get your items to you the same day you purchase them. The store that will be offering the delivery is its Tribeca location, and it will deliver anywhere in Manhattan and to some parts of Brooklyn and Queens, and it will cost shoppers a small fee.

“There’s no other place like Manhattan — it’s a thrill for us to be expanding here,” said Tony Roman, senior group VP of New York stores.

TGT stock grew a fraction of a percentage Monday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/05/target-corporation-tgt-manhattan/.

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