Target, Walmart Shrink Down For Urban Markets
Big box retailers -- a fixture of suburban America -- try to crack urban markets by scaling down their stores. See how and read Governing's feature on urban big box stores online this Thursday.
Target announced earlier this month that it plans to open the latest of its small-format stores, dubbed CityTarget, in Los Angeles next year.
The store -- measuring 99,000 sq. ft. and focusing on groceries -- marks the third CityTarget planned for Los Angeles. It will be on the second floor of a shopping center near Beverly Hills.
The retailer plans to open small-format stores in Chicago, Portland, Seattle and San Francisco this year and next year, company officials say.
Big box retailers are increasingly turning to shrunken-down versions of their traditional stores to fit into denser urban markets, where real estate is more expensive and more difficult to come by than it is in the suburbs.
Walmart recently announced plans for a new Neighborhood Market store in Chicago's East Lakeview neighborhood that will measure less than 35,000 square feet. Walmart's traditional Supercenter stores can measure 180,000 square feet.
View the slideshow to see photos and renderings of urban big box stores. A full feature on urban big box stores will be in the June issue of Governing, online this Thursday.