Kelowna joins the Target expansion
Sep 24, 2011 / 11:00 am
Kelowna will get it's Target after all.
Target announced Friday the completion of their real estate transaction with Zellers Inc. with the selection of 84 additional Zellers leases, bringing the total number to 189.
From this second group, Target has acquired the leasehold interests for 29 locations, the vast majority of which will open as Target stores beginning in 2013, including in Kelowna.
The West Kelowna location is not a part that second group, which did include 10 other B.C. locations including Penticton and Kamloops.
Only Ontario with 36 stores and Quebec with 16, will have more locations than B.C.
“Target is excited to take another meaningful step toward our expansion in Canada,” says Tony Fisher, president, Target Canada.
“We look forward to delivering a superior shopping experience for our guests throughout Canada and building on our strong reputation as a good neighbour and partner in the communities in which we do business.”
Target announced in January that it would purchase, for $1.825B, the leasehold interests of up to 220 sites currently operated by Zellers and owned by the Hudson’s Bay Company.
In May, Target selected an initial group of 105 leases spanning all 10 provinces, in conjunction with its first payment to Zellers Inc.
The vast majority of those sites were also slated to become Target stores in 2013. Kelowna was not included in that grouping.
Target plans to open 125 to 135 stores in Canada, the majority of which will open in March of 2013.
Before the new stores open, they will undergo a six to nine month closure as they undergo a $10 to $11 million remodelling prior to opening.
Each store in Canada will employ approximately 150 to 200 workers.
The Minneapolis-based Target Corporation includes 1,762 stores across the United States and currently has over 5 and a half million "likes" on Facebook.
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