Metro Commercial brokers 57,640 s/f Target lease at Devon Square SC in Devon, PA
Devon, PA — Metro Commercial Real Estate, Inc. (Metro) announced that Target has signed a lease for a 57,640 s/f location at Devon Square Shopping Center in Devon. Target was represented by Steve Niggeman and Tom Londres of Metro in this transaction.
Located in the western portion of Philadelphia’s Main Line, the Devon Square SC is ideally located in Radnor and Tredyffrin Townships on Lancaster Ave. The 163,000 s/f shopping center is anchored by national chains like Rite Aid and Acme Markets, along with supporting local retailers. The shopping center is currently 80% leased, with an additional 34,253 s/f available for lease next to the new Target, along with a 3,000 s/f outparcel. The Devon Square Target is slated to open in October 2018. This is the second Main Line location to be announced in recent months and the ninth Target to open in the region that follows Target’s smaller format store strategy. Nationwide, Target is on track to operate 130 small-format stores by the end of 2019. “Target continues to execute against their regional and national strategy of focusing on smaller format stores with carefully curated products and services in high density markets,” said Steve Niggeman, executive vice president, Metro Commercial. “The new Devon location is perfectly situated to service the western Main Line customer and is a great complement to the recently announced Ardmore location on the eastern Main Line.”