Thursday October 26, 2017
On October 19, Target announced its plan to open its first store in Vermont at the University Mall in South Burlington. Having signed a lease with LNR Partners for a 60,000-square-foot “small-format store,” Target’s newest store, projected to open in October 2018, means the company will have now have stores in all 50 states.
“Target has found the right opportunity to open our first store in Vermont. Our expansion to the Green Mountain state is long overdue and we are thrilled to meet our newest neighbors and community when our South Burlington store opens in 2018,” said Mark Schindele, senior vice president, Properties, Target.
“We are thrilled that Target has chosen South Burlington and University Mall as the location for their first store in Vermont. Target will provide yet another great anchor for the build-out of South Burlington City Center, our new downtown, while adding to the already thriving economic vitality of our community. South Burlington welcomes Target and all its employees as great additions to our business community and appreciate the shopping opportunities that will be available to our residents and visitors,” said City Manager Kevin Dorn.
Target’s news came right on the heels of an October 18 press release from Bon-Ton Stores, Inc. in which Bon-Ton announced it will close its store at the University Mall early next year when its lease expires. They report that their store will be open through January 31, 2018. According to Bon-Ton’s corporate headquarters, the closure impacts 42 associates currently working at the South Burlington store.
The new Target is part of company’s strategic priorities which include reaching new guests by expanding small-format stores in urban areas, dense suburban neighborhoods, and near college campuses. According to Target, their new store at 155 Dorset Street will provide neighboring residents with a curated assortment mix, including apparel and accessories; back to school items; home and decor essentials; health, personal care, and beauty products as well as a grocery selection including fresh produce. In addition, the new store will offer online order pickup. Schindele says, “We look forward to providing a convenient shopping experience with a broad, unique product assortment that only Target can provide.”
Target reports that the South Burlington store will employ approximately 75 team members. In October, Target announced plans to raise its minimum hourly wage for all team members to $11, along with a commitment to increasing the minimum hourly wage to $15 by the end of 2020.
“Vermont has a dynamic retail market and we are very pleased to welcome Target to the state, further strengthening this sector and enhancing retail options for our consumers,” said Vermont Governor Phil Scott. “As we focus on growing the Vermont economy, bringing in new employers with a commitment to creating jobs and providing career opportunities for Vermonters is so valuable to those efforts. While we may be the last state to join the Target family, we know they will quickly become part of the Vermont community, and look forward to seeing its long-term success in the state.”