Target could be a retail tenant at Lincoln Square
Just a month ago, the Lincoln Square development in the works at Broad and Washington received approval from the Civic Design Review. Things are continuing to move forward with the project, now with excavation beginning on the site and some more news about a potential tenant for the mixed-use building.
Target is hoping to occupy one of the commercial spaces available at Lincoln Square.
Originally Bart Blatstein intended to have Target as an occupant in the commercial space at his project across the street, but with that development being stalled in court, Target has decided to jump ship to Lincoln Square.
From Philly.com:
The Lincoln Square location on the northwest corner of Broad Street and Washington Avenue would be Philadelphia’s fifth to use Target’s “flexible format” approach involving smaller, urban-oriented alternatives to the Minneapolis-based retailer’s big-box stores. Two of the smaller stores are currently operating in Center City, with an additional two under development in Fairmount and Upper Roxborough.
With a Broad and Washington store, Target apparently hopes to serve increasingly affluent nearby neighborhoods such as Graduate Hospital and Passyunk Square that are outside easy shopping range of South Philadelphia’s big-box retail districts near the Schuylkill and the Delaware River, said Jacob Cooper, a managing director with brokerage MSC Retail in Philadelphia.
This seemed more or less like a slam dunk once the Blatstein project got delayed and Lincoln Square “coincidentally” decided to add a second floor to the retail on Washington Ave.
Don’t hold your breath.
Yep, word is Wegman’s already leased the ground floor.
Is it a real Target, like the South Philly and City Ave stores? Or a “Targette”, like the ones on Chestnut. Those little ones have less merchandise at a higher price. The only advantage they have over other convenience stores is that you have 30 days to bring your receipt to a real Target, where you can buy the same items at Target prices and return them with the Targette receipt.