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National News / Business

Thursday, 26 May, 2011 10:42 PM

Target Selects Initial Zellers Leases, Vast Majority to Become Target Stores

Target Canada headquarters location also chosen

Photo credit: www.brokencitylab.org

The Zellers store at Devonshire Mall in Windsor, Ont. will soon become a Target store by 2013.

MINNEAPOLIS -- Target Corporation (NYSE: TGT) is pleased to announce the selection of its initial group of Zellers sites, representing 105 locations in all 10 provinces across Canada. The vast majority of these store sites will become Target stores after securing the necessary construction approval for extensive renovation and will open beginning in 2013. Target expects to finalize the acquisition of these initial sites in the coming days and pay half of the C$1.825 billion purchase price. A full list of the sites in this initial selection, including the 22 property owners and landlords with whom Target has reached lease agreements, accompanies this release. In accordance with its real estate transaction to acquire up to 220 leaseholds from Zellers Inc. announced earlier this year, Target has the right to select up to 110 sites in conjunction with the first payment and will continue to select additional leases in advance of the second payment this fall.

Target also announced today that, pending approval by its Board of Directors next month, it has selected the location of its Canadian headquarters. Target will occupy about 180,000 square-feet of space at 5570 Explorer Dr., Mississauga, ON in AeroCentre V. The building was built to LEED (Leadership in Energy & Environmental Design) gold standard and is owned by Healthcare of Ontario Pension Plan (HOOPP). After some remodeling, the majority of Target's Canadian headquarters team will begin occupying the space in early 2012.

"We are thrilled to share these first details about our planned entry into Canada," said Tony Fisher, president, Target Canada. "We are excited that these initial store sites ensure Target will be represented throughout the country. We look forward to completing our selection process during the next several months, moving us one step closer to delivering the Target brand shopping experience to our Canadian guests."

Target analyzed extensive data on Canadian retail performance, demographics, competition and market potential to identify trade areas which would be well-served by a Target store. Each selected site is subleased to Zellers and will continue to operate as a Zellers store for some time. Six to nine months prior to opening as Target stores, the majority of stores will be closed for significant remodeling. On average, about $10 million will be invested in remodeling each location, which will create a significant number of construction jobs for Canadians. Target store openings will begin in 2013, and a detailed schedule of individual store opening dates will be made available at a later date.

Each Target store in Canada will employ approximately 150 to 200 team members. Target is excited to build its talented and dedicated team in Canada and looks forward to beginning the store hiring process in 2012. Target will also engage with Zellers associates to make it easy for them to apply for jobs at Target.

About Target

Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,755 stores in 49 states nationwide and at Target.com. In addition, the company operates a credit card segment that offers branded proprietary credit card products. Since 1946, Target has given 5 percent of its income through community grants and programs; today, that giving equals more than $3 million a week. For more information about Target's commitment to corporate responsibility, visit Target.com/hereforgood.

Source: Target Corporation

SELECTED SITES BY LANDLORD

20 Vic Management, Inc. (3)
5100 Erin Mills Parkway, Mississauga, ON - Erin Mills Town Centre
221 Glendale Ave., St. Catharines, ON - Niagara Pen Centre
2277 Riverside Drive, Ottawa, ON - Billings Bridge Plaza

Bentall Kennedy (10)
5115 17 th Ave. S.E., Calgary, AB - Forest Lawn Shopping Centre
2801 Cliffe Ave., Courtenay, BC - Driftwood Mall
120-1500 Cranbrook St., Cranbrook, BC - Tamarack Centre
300 Eagleson Road, Kanata, ON - Hazeldean Mall
19705 Fraser Highway, Langley, BC - Willowbrook Shopping Centre
785 Wonderland Road, London, ON - Westmount Shopping Centre
55 Ontario St. S., Milton, ON - Milton Mall Shopping Centre
4900 Molly Banister Drive, Red Deer, AB - Bower Place
250 The East Mall, Toronto, ON - Cloverdale Mall
4900 27 th St., Vernon, BC - Village Green Mall

Cadillac Fairview (7)
7695 boul. des Galeries d'Anjou, Anjou, QC - Galeries D'Anjou
6455 Macleod Trail S.W., Calgary, AB - Chinook Centre
3625 Shaganappi Trail NW, Calgary, AB - Market Mall
1680 Richmond St. N., London, ON - Masonville Place
500bBoul. des Promenades, Saint-Bruno-de-Montarville, QC -
Promenades Saint-Bruno
517 Westmorland Drive, Saint John, NB - McAllister Place
1485 Portage Ave., Winnipeg, MB - Polo Park Shopping Centre

Fishman Holdings (3)
500 Rexdale Blvd., Etobicoke, ON - Woodbine Centre
489 Albert St. N., Regina, SK - Northgate Mall
2900 Warden Ave., Scarborough, ON - Bridlewood Mall

Goldmanco, Inc. (1)
1899 Algonquin Ave., North Bay, ON

Homburg Canada REIT (3)
825 St-Laurent Ouest, Longueuil, QC - Place Longueuil
1500 Atwater Ave., Montreal, QC - Place Alexis Nihon
24 Stavanger Drive, St. John's, NL - Cabot Square

Ivanhoe Cambridge (14)
4545 Central Blvd., Burnaby, BC - Metropolis at Metrotown
777 Guelph Line, Burlington, ON - Burlington Mall
21 Mic Mac Road, Dartmouth, NS - Mic Mac Mall
100 Bayshore Dr., Unit 10, Ottawa, ON - Bayshore Shopping Centre
700 boul. Laurier, Saint-Foy, QC - Place Laurier
55 rue Industriel, Rimouski, QC - Le Carrefour Rimouski
139-375 Saint Albert, Saint Albert, AB - Saint Albert Centre
8585 boul. Lacroix, Saint-Georges, QC - Carrefour Saint-Georges
3305 Cote Vertu, Unit 2, Saint-Laurent, QC - Place Vertu
55 boul. des Forges, Trois-Rivieres, QC - Les Rivieres Shopping Centre
650 W. 41 st St., Vancouver, BC - Oakridge Shopping Centre
550 King St. N., Waterloo, ON - Conestoga Mall
3100 Howard Ave., Windsor, ON - Devonshire Mall
1545 Regent Ave., Winnipeg, MB - Kildonan Place Shopping Centre

Kimco Realty, Sun Life and North American Development Group (1)
2525 rue d'Annemasse, Boisbriand, QC - Faubourg Boisbriand

KingSett Capital (1)
195 boul. Hymus, Pointe Claire, QC - Terrarium Shopping Centre

Montez Corporation (2)
Maple Valley Ind. Park Road, Corner Brook, NL - Corner Brook
1 585 Merivale Rd., Nepean, ON - Meadowlands Shopping Centre

Morguard (12)
15400 Bayview Ave., Aurora, ON - Aurora Shopping Centre
25 Peel Centre Drive, Brampton, ON - Bramalea City Centre
1570 18 th St., Brandon, MB - Shoppers Mall
335 Hespeler Road, Cambridge, ON - Cambridge Centre
45585 Luckakuck Way, Chilliwack, BC - Cottonwood Mall
3010-2929 Barnet Highway, Coquitlam, BC - Coquitlam Centre
82 nd Ave. and 83 rd St., Edmonton, AB - Bonnie Doon
11801 100 th St., Grande Prairie, AB - Prairie Mall
6600 Yonge St., North York, ON - Centerpoint Mall
3510 8 th St. E., Unit 1, Saskatoon, SK - The Centre
45 Overlea Blvd., Toronto, ON - East York Town Centre
35 Lakewood Blvd., Winnipeg, MB - Southdale Centre

Narland Properties (1)
11850 224 th St., Maple Ridge, BC - Haney Place Mall

Northwest Realty Inc. (1)
1324 Island Highway, Campbell River, BC - Discovery Harbour Shopping Centre

Oxford Property Group (4)
109 th St. and Kingsway, Edmonton, AB - Kingsway Garden Mall
100 City Centre Drive, Mississauga, ON - Square One
17600 Yonge St. N., Newmarket, ON - Upper Canada Mall
9350 Yonge St., Richmond Hill, ON - Hillcrest Mall

Primaris Management, Inc. (5)
2525 36 th St. N.E., Calgary, AB - Sunridge Mall
945 Gardiners Road, Kingston, ON - Cataraqui Town Centre
110 Place D'Orleans Drive, Orleans, ON - Place D'Orleans
550 boul. Wilfried Hamel, Quebec City, QC - Place Fleur De Lys
1080 Grant Ave., Winnipeg, MB - Grant Park

Redcliff Realty Group (7)
7155 120 th St., Delta, BC - Scottsdale Mall
1211 Barton St. E., Hamilton, ON - Centre Mall
2999 Massey Drive, Prince George, BC - Pine Centre
5401 boul. des Galeries, Quebec City, QC - Les Galeries De La Capitale
3050 boul. Portland, Sherbrooke, QC - Carrefour De l'Estrie
1000 Fort William St., Thunder Bay, ON - Intercity Shopping Centre
330 Taunton Road, Whitby, ON - Taunton Gardens Power Centre

RioCan Real Estate Investment Trust (21)
1225 Sumas Way, Abbotsford, BC - Abbotsford Power Centre
100 Kingston Road, Ajax, ON - Durham Centre
2000 Appleby Line, Burlington, ON - Millcroft Shopping Centre
80 Great Lakes Drive, Brampton, ON, - Trinity Common Brampton
40 Steeles Ave. W., Brampton, ON - Shoppers World Brampton
5696 Richmond Road S.W., Calgary, AB - Signal Hill Centre
295 Shawville Blvd S.E., Calgary, AB - Shoppes at Shawnessy
670 University Ave., Charlottetown, PE - Charlottetown Mall
2331 66 th St. N.W., Edmonton, AB - Mill Woods Town Centre
900 Tower St. S., Fergus, ON - Gates of Fergus
1576 Upper James St., Hamilton, ON - South Hamilton Square
1160 Desserte Ouest, Laval, QC - Mega-Centre Notre-Dame
1029 Brodie Drive, Orillia, ON - Orillia Square Mall
285 Taunton Road. E., Oshawa, ON - Five Points Shopping Centre
1055 St. Laurent Blvd., Ottawa, ON - RioCan St. Laurent
275 Brockville St., Smiths Falls, ON - County Fair Mall
925 Ontario St., Stratford, ON - Stratford Centre
1485 Lasalle Blvd., Sudbury, ON - Sudbury Supermall
3003 Danforth Ave., Toronto, ON - Shoppers World Danforth
3170 Tillicum Road, Victoria, BC - Tillicum Centre
30 Horseshoe Crescent, Waterdown, ON - Flamborough Power Centre

Shape Properties (1)
4750 Rutherford Road, Nanaimo, BC - Nanaimo North Town Centre

Societe de Section Cogir (1)
1685 Bedford Highway, Bedford, NS - Bedford Place

T&T Properties (1)
2020 Sherwood Drive, Sherwood Park, AB - Sherwood Park Mall

University of Guelph (1)
175 Stone Road W., Guelph, ON - Guelph

Westcliff Management, Ltd. (5)
7091 boul. Newman, Lasalle, QC - Carrefour Angrignon
1200 boul. Alphonse-Desjardins, Levis, QC - Galeries Chagnon
401 Kent St. W., Lindsay, ON - Lindsay Square Mall
600 Pierre Caisse, Saint-Jean, QC - Carrefour Richelieu
900 Rue Grignon, Saint Jerome, QC - Carrefour Du Nord

SELECTED SITES BY PROVINCE

Alberta
Chinook Centre, Calgary
Forest Lawn Shopping Centre, Calgary
Market Mall, Calgary
Shoppes at Shawnessy, Calgary
Signal Hill Centre, Calgary
Sunridge Mall, Calgary
Bonnie Doon, Edmonton
Kingsway Garden Mall, Edmonton
Mill Woods Town Centre, Edmonton
Prairie Mall, Grande Prairie
Bower Place, Red Deer
St. Albert Centre, St. Albert
Sherwood Park Mall, Sherwood Park

British Columbia
Abbotsford Power Centre, Abbotsford
Metropolis at Metrotown, Burnaby
Discovery Harbour Shopping Centre, Campbell River
Cottonwood Mall, Chilliwack
Coquitlam Centre, Coquitlam
Driftwood Mall, Courtenay
Tamarack Mall, Cranbrook
Scottsdale Mall, Delta
Willowbrook Shopping Centre, Langley
Haney Place Mall, Maple Ridge
Nanaimo North Town Centre, Nanaimo
Pine Centre, Prince George
Oakridge Shopping Centre, Vancouver
Village Green Mall, Vernon
Tillicum Mall, Victoria

Manitoba
Shoppers Mall, Brandon
Grant Park , Winnipeg
Kildonan Place Shopping Centre, Winnipeg
Polo Park Shopping Centre, Winnipeg
Southdale Centre, Winnipeg
New Brunswick
McAllister Place , Saint John
Newfoundland and Labrador
Corner Brook , Corner Brook
Cabot Square, St. John's

Nova Scotia
Bedford Place , Bedford
Mic Mac Mall, Dartmouth

Ontario
Durham Centre, Ajax
Aurora Shopping Centre, Aurora
Bramalea City Centre, Brampton
Shoppers World Brampton, Brampton
Trinity Common , Brampton
Burlington Mall, Burlington
Millcroft Centre, Burlington
Cambridge Centre, Cambridge
Woodbine Centre, Etobicoke
Gates of Fergus , Fergus
175 Stone Road W., Guelph
Centre Mall, Hamilton
South Hamilton Square, Hamilton
Hazeldean Mall, Kanata
Cataraqui Town Centre, Kingston
Lindsay Square Mall, Lindsay
Masonville Place, London
Westmount Shopping Centre, London
Milton Mall Shopping Centre, Milton
Erin Mills Town Centre, Mississauga
Square One, Mississauga
Meadowlands Shopping Centre, Nepean
Upper Canada Mall, Newmarket
1899 Algonquin Ave., North Bay
Centerpoint Mall, North York
Orillia Square Mall, Orillia
Place D'Orleans , Orleans
Five Points Mall, Oshawa
Bayshore Shopping Centre, Ottawa
Billings Bridge Plaza, Ottawa
RioCan St. Laurent, Ottawa
Hillcrest Mall, Richmond Hill
Bridlewood Mall, Scarborough
County Fair Mall, Smiths Falls
Niagara Pen Centre, St. Catharines
Stratford Mall, Stratford
Sudbury Supermall, Sudbury
Intercity Shopping Centre, Thunder Bay
Cloverdale Mall, Toronto
Shoppers World Danforth, Toronto
East York Town Centre, Toronto
Flamborough Power Centre, Waterdown
Conestoga Mall, Waterloo
Taunton Gardens Power Centre, Whitby
Devonshire Mall, Windsor
Prince Edward Island
Charlottetown Mall, Charlottetown

Quebec
Galeries d'Anjou , Anjou
Faubourg Boisbriand , Boisbriand
Carrefour Angrignon, Lasalle
Mega Centre Notre-Dame, Laval
Galeries Chagnon , Levis
Place Longueuil , Longueuil
Place Alexis Nihon, Montreal
Place Vertu, Montreal
Terrarium Shopping Centre, Pointe Claire
Les Galeries De La Capitale, Quebec City
Place Fleur De Lys , Quebec City
Place Laurier, Quebec
Le Carrefour Rimouski, Rimouski
Promenades Saint-Bruno , Saint-Bruno-de-Montarville
Carrefour Saint-Georges , Saint-Georges
Carrefour Richelieu, Saint- Jean sur-Richelieu
Carrefour du Nord, Saint Jerome
Carrefour de L'Estrie, Sherbrooke
Les Rivieres Shopping Centre, Trois Rivieres

Saskatchewan
Northgate Mall, Regina
The Centre, Saskatoon

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