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

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Real Estate Agent with RE/MAX Gold DRE #00697006

land park targetHere 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.

elizabeth weintraub sacramento real estate agent in land park

Photo: Big Stock Photo

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

 

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

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Ambassador
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, 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 #1
Rainer
256,688
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 #2
Rainmaker
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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

Oct 29, 2008 02:30 AM #3
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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 #4
Rainmaker
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Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - 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.

elizabeth weintraub sacramento real estate agent in land park

Oct 29, 2008 07:47 AM #5
Anonymous
JG

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

Oct 29, 2008 09:11 AM #6
Rainer
171,185
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 #7
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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 #8
Rainmaker
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Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

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.

elizabeth weintraub sacramento real estate agent in land park

Oct 29, 2008 09:57 AM #9
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C Tann-Starr
Tann Starr & Associates, Inc. - Palm Bay, FL

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

Oct 29, 2008 10:06 AM #10
Rainmaker
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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 #11
Rainmaker
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Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

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!

elizabeth weintraub sacramento real estate agent in land parkelizabeth weintraub sacramento real estate agent in land park

Oct 29, 2008 01:57 PM #12
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