Target plans third ‘flexible format’ store in Boston area
Target Corp. (NYSE: TGT) is planning to open one of its “flexible format” store at 109 Main St. in Stoneham.
The 48,000-square-foot store will be located in the Redstone Shopping Center and open in July.
Flexible format stores are substantially smaller than a standard Target location — less than 50,000 square feet compared to an average store size of 170,000 square feet or more, according to Target’s annual report— and are a key facet to the retail giant’s urban growth strategy.
Target is planning to open 27 flexible format stores in the next three years, including a 21,000-square-foot store at 564 Massachusetts Ave. in Cambridge’s Central Square that will open in March. A 16,000-square-foot Target opened at 860 Commonwealth Ave. near Boston University in July, while a three-level, 160,000-square-foot Target opened at 1341 Boylston St. in Boston’s Fenway neighborhood in June 2015.
Merchandise at the Stoneham store will include: “a curated assortment of kids’ and baby care products, toys, men’s and women’s apparel and accessories, a selection of fresh groceries for the fill-in trip, weekly stock-up or grab-and-go, health and beauty products, a curated home assortment, and portable technology products and entertainment accessories,” according to an announcement.
“We look forward to serving even more guests in the greater Boston area with the addition of Target’s July 2017 Stoneham store at Redstone Shopping Center,” said Mark Schindele, senior vice president of Properties at Target, in a statement. “We think the community will enjoy the convenient shopping experience with a broad, unique product assortment that only Target can provide.”