Boston Business Journal | By Catherine Carlock
December 6, 2016
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.