One of Target's (NYSE:TGT) latest smaller format stores, TargetExpress, will open in College Park, Maryland, this fall, adjacent to the University of Maryland.
The mixed-use property development, owned by CA Ventures, will be located on Baltimore Avenue and feature apartments above new retail shops, reported the Washington Post.
The 14,617-sq.-ft. Express will open this summer, before students return to campus. Although the store will be about one-tenth the size of an average Target, it will feature groceries, as well as health, beauty and household products.
Currently Target operates three other Express stores: one near headquarters in Minneapolis, and two others that opened last week in the San Francisco Bay area. In total, the chain plans to open eight smaller format stores in 2015, including locations in San Diego, Chicago, the Bay Area, and another in the Washington, D.C., area. Overall, the company will open more small-format than big-box stores in 2015 as it looks to increase its footprint in urban markets.
"We basically said, look, we are seeing guests move to urban areas," Erika Winkels, a spokesperson for Target, told the Washington Post. "We are seeing this influx of the population…so what we're doing is really responding to that guest shift."
-See this Washington Post article
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