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A Target pop-up, time to think big while leasing small. |
| By Jeff Sherman OnMilwaukee.com Staff Writer E-mail author | Author bio More articles by Jeff Sherman |
| Published April 28, 2009 at 2:15 p.m. |
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Last year at this time, I told you that Target was looking in and around Milwaukee's Downtown for a smaller concept store. This continues to be true, as several sources have confirmed that areas in and around The Shops of Grand Avenue are "still in play."
Today, Target Corporation announced that is coming to Chicago's Magnificent Mile, but only for three days. Here's the deal. The retailer will open a pop-up store next week at 455 N. Michigan Ave. at the site of a former Hammacher Schlemmer shop and most recently the Freedom Museum.
The Target store, that the company is calling Bullseye Bazaar, will create buzz, generate sales from Downtown residents and workers and, of course, be a nice, if short-term, lease for a vacant space.
This got me thinking that this simple concept could work wonders for both landlords and store tenants in Milwaukee's Downtown. A one-week Downtown Best Buy, bike store or even an auto dealer? Why not?
We have too many vacant storefronts that need tenants. A concept like a Target pop-up could be a win-win.
Owners of Milwaukee vacant spaces, it just might be time to think big while leasing small. There's opportunity here for everyone.
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6 comments about this article. Post a comment / write a review. |
Posted by DowntownRed on April 30, 2009 at 9:56 p.m. (report)
The Target store on Michigan Avenue is to promote new spring merchandise and to promote a new clothing line from designer Tracy Feith. So many people are on Michigan Avenue, Target can get their new stuff in front of more people and probably have a better return than hoping the same people catch the commercial on television. Kraft and Motorola have both opened "pop-up" stores to promote new items. Kraft to promote a new pizza and Motorola to promote the launch of the Q phone. Target probably will not sell a lot at this store but are expecting people to go back home and buy the items at their local store.
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Posted by Hckyboy00 on April 29, 2009 at 2:58 a.m. (report)
If you think about it, it's probably much easier to do with a national chain than it would an independent business. Target's more or less can be delivered in a series of boxes, and built in months from an empty lot. All you really need to make a guerrilla Target are the red polos with khakis, merch, and the signage/fixtures. You are not trying to make something unique with the space, you are simply trying to convert it to somehting that kinda looks like a target. I think 3 days is a bit unfeasible, but i don't think Target is necessarily trying to turn a profit in 26 hours of business. Depending on square footage, and if you had a number of working crews that progressed through the store (imagine a retail Levittown) you could get a substantial space prepared in less than 24 hours.
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Posted by akdescending on April 28, 2009 at 10:21 p.m. (report)
I was on the opening team that took a small specialty retail store from empty room to soft opening. it took 30 people 4 days and a manager with 20 years experience said we were the most efficient team she'd ever seen. I can't even imagine the logistical nightmare they're about to encounter trying to open a guerrilla Target. How can that possibly be worth it?
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Posted by brunocarlson on April 28, 2009 at 4:29 p.m. (report)
This is an excellent idea. It is great for the property owners, the business owners, the nearby business owners, those living downtown, and for the people that are needed to set up and take down the event.
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Posted by brienlee on April 28, 2009 at 3:27 p.m. (report)
Excellent thoughts! I also wonder why Mke downtown hasn't embraced a "rent-a-desk-space" concept yet (It's an assumption, maybe I'm wrong.). It serves everyone. It can be marketed as funky and youthful, or as stuffy and corporate. New York's Greenwich Village area has quite a few of these popping up-- you get to be in the city where the action is, but just rent a space by the month or by the day. The proprietor of the space provides conference rooms, phones, video projectors, broadband. You provide yourself and a laptop and the ability to go where you need to go, at a fraction of the cost of renting full time space (and at a fraction of the legal-lease exposure.) You are also part of a social scene as well. Google Sunshine Suites to see what I mean. Also, this is not "incubator space" it's much more tailored to the freelancer or start-up that won't require thousands of feet to start. And it's very sexy space.
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