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When it comes to overstoring, China’s the champ
U.S. real estate developers and brokers coping with epic changes in the retail landscape can take some solace from the fact that, when it comes to overstoring, America’s got nothing on China. A list of cities with the most shopping center space under construction from CBRE Research had Chinese cities occupying 11 of the top 12 spots, led by Chongqing with 39.8 million sq. ft. being built. Shenzhen (38.7 million) and Chengdu (37.6 million) weren’t far behind.
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Target Exercises Flexibility
Target Corp. is thinking out of the box in urban and other select areas.
The retailer’s flexible format store is designed to allow it to open in locations — ranging from downtown areas to college neighborhoods — that can’t accommodate a big-box footprint. The stores, which also serve as convenient pick-up destinations for online orders, run the gamut in size depending on their location. But most seem to average from about 20,000 to 40,000 sq. ft. The smallest, at 12,000 sq. ft., is in Berkely, Calif.
