Target Closes Store Due to Limited Parking, Foot Traffic & More Performance Challenges in Philadelphia

Target closed one of its stores in Center City, Philadelphia, nearly seven years after opening the location. The move to shut down the 19,000-square-foot Washington Square store, located at 1128 Chestnut Street, comes due to years of “declining” performance. The store closed on March 13. The corporation cited that nearby Rittenhouse Square, Broad Street and Washington Avenue are better-performing locations, according to the “Philadelphia Business Journal.” All 45 workers, part-time and full, were encouraged to work at the surrounding locations following the closure. The Washington Square location opened in 2016 in a development along with Planet Fitness, Fine Wine & Good Spirits and an apartment complex. Unlike Small format stores, Target’s larger locations are typically 130,000 square feet and offer ample room to complete e-commerce orders in-store. The company has pointed to a lack of foot traffic in the surrounding area and limited parking as culprits of the underperforming issue among other things. Construction across the street for National Real Estate Development’s medical building for Jefferson Health has also greatly restricted access to the development. The construction is expected to finish next year. The Target corporation expressed that they are still committed to opening stores in Philadelphia, of which they currently have 50, regardless of the closure. “The

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