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No New Target Store for Land Park - Target Halts Plans to Expand

By Elizabeth Weintraub Sacramento Broker

Real Estate Agent with Elizabeth Anne Weintraub, Broker DRE #00697006

October 29, 2008 02:01 AM

Here I was bracing myself for having no place to shop when the Land Park Target on Broadway closes up in January for expansion, and yesterday I read that Target has called off its remodeling plans due to the depressed economy.

I have mixed feelings about it.

In a way, I'm relieved that the store will stay open, which means I won't have far to drive to pick up laundry soap, cases of diet coke or canned cat food. On the other hand, I was looking forward to the newly expanded store, with a second level and impressive architectural style, not to mention plenty of new inventory.

If it's any consolation, Target is not moving forward with its plans to build downtown, either. Its scaling back on its expansion plans and waiting for the economic climate to improve. So, it looks like we'll still get the new Target in Land Park; we just have to wait for it.

Photo: Big Stock Photo

The Short Sale, by Elizabeth Weintraub, coming from Archer Ellison in January 2009

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Chris Ann Cleland

Long and Foster Real Estate - Gainesville, VA

Associate Broker, Bristow, VA

Elizabeth: I heard that Wal-Mart is in the same boat. No new stores, no remodeling...at least for now. As long as these stores are still open, they should count their blessings. In Gainesville, we just had a Linens 'n Things just open about two months ago. I kid you not, they are already going out of business.

Oct 29, 2008 02:06 AM

Debi Ernst

St. Charles County, Missouri - Prudential Alliance Realtors - O'Fallon, MO

GRI, e-PRO, Broker/Sales Associate

Elizabeth - I hope things will pick up for Target and other stores before too long... :)

Oct 29, 2008 02:30 AM

Tom Braatz Waukesha County Real Estate 262-377-1459

Coldwell Banker - Oconomowoc, WI

Waukesha County Realtor Real Estate agent. SOLD!

Elizabeth

I am just happy to see large companies being able to stay afloat. Hope all is well.

Regards

Tom Braatz

Gary Woltal

Keller Williams Realty - Flower Mound, TX

Assoc. Broker Realtor SFR Dallas Ft. Worth

Elizabeth, the big box retail establishments are looking closely at future investment until this economy settles down so this decision probably was to be expected.

Oct 29, 2008 03:43 AM

Elizabeth Weintraub Sacramento Broker

Elizabeth Anne Weintraub, Broker - Sacramento, CA

Put 40 years of experience to work for you

Hi Chris Ann: There is an AP story in today's paper that says Wal-Mart is still opening new stores next year, just not as many as they opened this year.

Hi Debi, Tom and Gary: At last stores like Target are still open. I'd be lost without the Target by my house.

Oct 29, 2008 07:47 AM

Anonymous

Shop at Target, but didn't really see downtown as the right place for it.

Oct 29, 2008 09:11 AM

Fred Chamberlin

Guild Mortgage Co - Oak Harbor WA - Oak Harbor, WA

Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant

One of the investment guru's on Bloomberg today suggested Target as a "conditional" blue chip because they are a strong player in a weak sector (retail). Maybe as things pick up, you will get your store upgraded.

Oct 29, 2008 09:26 AM

C Tann-Starr

Tann Starr & Associates, Inc. - Palm Bay, FL

Fred, that's an interesting angle to come at it from.

Nice post Elizabeth. A few huge stores opened up by 71st and Continental, put several long term but small mom and pop stores out of business, only to close down a few months later. What a bummer...

Oct 29, 2008 09:52 AM

Hi JG: They put a Target in downtown Minneapolis. A huge problem with it was carting those gigantic Target bags to the car!

Hi Fred: Ah, I recall the days when Target was nothing more than a small-scale suburban outlet for leftover merchandise from Dayton's.

Hi C: At least Target is not another K-Mart.

Oct 29, 2008 09:57 AM

Oh my word! E, you got that right (LOL).

Oct 29, 2008 10:06 AM

Terry & Bonnie Westbrook

Westbrook Realty Broker-Owner - Grand Rapids, MI

Westbrook Realty - Grand Rapids Forest Hills MI Re

Sounds like good management to keep the company profitable.

Oct 29, 2008 12:45 PM

Hi C: Target is a bit more upscale than K-Mart, which is sort of the Wards catalog variety -- oh, wait, maybe Wal-Mart has taken that over. LOL.

Hi Terry: Target is based out of Minneapolis. I tend to trust Minnesota companies. They aren't swayed by palm trees and movie stars or Wall Street. BTW, my General Mills stock is pretty secure. Minnesota company. You know who figured out who the terrorists were during 9/11, right, and refused to let them fly planes -- Minnesota!

Oct 29, 2008 01:57 PM

No New Target Store for Land Park - Target Halts Plans to Expand

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