Target will open its third Lexington store near the University of Kentucky, the Minnesota-based retailer announced Wednesday.
Target has signed a lease with Core Spaces, subject to permit approvals, to occupy the ground floor of a five-story development at 500 S. Upper Street, near Pine Street. The rest of the complex, called Hub on Campus Lexington, will be student apartments. It is expected to open in summer 2019
The new store will be smaller than a traditional Target, which the company calls a small-format store. The retailer said its small-format store is being placed near college campuses, urban areas and in dense suburban neighborhoods.
“Our first small-format store in Kentucky will offer UK students and area residents a convenient, one-stop shopping experience that is uniquely Target," said Mark Schindele, senior vice president of properties for Target. "Target continues to add locations near college campuses to help make students’ shopping experience fun and easy, and we look forward to enhancing the college life experience for the Wildcat community while also providing a new retail option for near-by residents.”
At approximately 20,000 square feet, the store will employ 45 people. The new store will have an order pick-up option that allows customers to order online and pick up at the store. There is a parking garage in the Core Spaces building.