That Mall is sick and that Store is dead!

November 20, 2008

{{Daily Press}} Target takes shape at Town Center

Filed under: "coliseum mall",Newport News,Target — Anita @ 7:08 pm

Target, Hampton, VA (Might be moving next year?)

Target takes shape at Town Center
The store will feature an expanded grocery section in an attempt to remain competitive with Wal-Mart.

By PETER FROST | 247-4744
November 20, 2008

HAMPTON – A new Target store that will feature fresh produce, meats and baked goods is beginning to take shape at the new Peninsula Town Center, a mixed-use development that will take the place of the old Coliseum Mall on Mercury Boulevard.

The nation’s second-largest discount retailer completed the purchase of the land about a month ago for $4.3 million and is on track to finish the 143,000 square foot store in time for a July 2009 opening, company and development officials said Wednesday.

The store will serve as one of the shopping and dining district’s anchors and will replace the nearby Hampton Target that opened on Saville Row in 1996, said Anna Anderson, a Target Corp. spokeswoman. That store is 118,300 square feet, according to city property records.

Hampton’s new Target will be molded in a new company prototype, a hybrid discount store with an expanded grocery format that will help it remain competitive with Wal-Mart, which began rolling out a similar store strategy within the last year.

“It’s a mix between a general merchandise Target and a Super Target,” Anderson said. “We find that what our guest is looking for is to have the most things under one roof.”

Employees of the existing Hampton Target location will be relocated to the new store. None are expected to lose their jobs.

Target Newport News va

The company recently finished a re-model and expansion project at its Newport News store, expanding the grocery section and improving its pharmacy, among other things. Target also has two stores in the Williamsburg area.

Despite a haggard economy and slowing retail sales that are expected to be weak through 2009, much of the development at Peninsula Town Center is moving forward as planned.

In March, bookseller Barnes & Noble is slated to open its third Peninsula location, and in April, the developer hopes to have 159 executive-style apartments ready for tenants, said Raymond Tripp, general manager of the development.

When the first phase of Town Center is complete, it could have as many as 100 retail storefronts, a dozen restaurants and a separate entertainment hub that might hold a movie theater. The center also will have several thousand square feet available for offices.

The developer is not releasing prospective tenants until they’re signed and close to opening in the center, Tripp said.

“We’ve had a few bumps in the road, yes, but fortunately not many,” Tripp said. “We haven’t had anyone pull out, but we’ve had a few that have drawn the process out.”

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