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Thursday, 26 May 2011 16:30

No Target stores for southern Alberta...yet

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Medicine Hat and Lethbridge missed the Target...for now.

The Target Corporation, with its head office in Minnesota, announced 105 new Canadian location of their Target stores, esstenially taking over the leases of the Zellers stores which they purchased earlier this year.

There are six Zellers stores in Calgary, for a total of 13 which are turning into Targets in 2013. As well one in Regina (Northgate Mall) and one in Saskatoon are the only Saskatchewan sites so far.

According to the media release issued today:

"Target Corporation is pleased to announce the selection of its initial group of Zellers sites, representing 105 locations in all 10 provinces

across Canada. The vast majority of these store sites will become Target stores after securing the necessary construction approval for extensive renovation and will open beginning in 2013.

Target expects to finalize the acquisition of these initial sites in the coming days and pay half of the C$1.825 billion purchase price. A full list of the sites in this initial selection, including the 22 property owners and landlords with whom Target has reached lease agreements, accompanies  this release. In accordance with its real estate transaction to acquire up to 220 leaseholds from

Zellers Inc. announced earlier this year, Target has the right to select up to 110 sites in conjunction with the first payment and will continue to select additional leases in advance of the second payment this fall."


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