After months of anticipation, Scotts Valley residents now have an answer to one of their burning questions.
Target Corp. announced Monday it will be launching its Scotts Valley store on Sept. 25.
“At approximately 55,000 square feet, the store will bring an easy, safe, and convenient shopping experience to new guests in the community,” a Target spokesperson said in an email to the Press Banner.
The revelation is a spot of good news following a devastating second quarter for the company. It saw profits drop 90% after it couldn’t unload products as inflation pinches American pockets.
However, prior to that, Target had been one of the few bright lights of the U.S. economy, as it was one of the businesses that could remain open in many states during much of the Covid-19 crisis.
Target had originally wanted to build a 143,000-square-foot store on La Madrona Drive but pulled out in 2009, citing the subprime mortgage crisis.
After generating $4 billion during the pandemic to put into growth, it decided to pull the trigger on a multi-store purchase from Transformco Properties, the parent of Kmart and Sears.
As it purchased five Kmart stores—including the defunct husk at 270 Mt. Hermon Road in the Scotts Valley Square Shopping Center—it bucked the trend seen across the majority of the retail sector, as consumers shifted dollars to online options like Amazon.
Last week, as cement was drying just outside his storefront, Brett Aeck, the co-owner of Earthwise Pet Supply, said Target’s arrival is bringing massive changes to the shopping plaza.
Aeck says his small business can no longer afford to stay in its 266 Mt. Hermon Road location after the property manager, Pratt Company, doubled their rent. They must be out by the end of the month.
“They’ve kicked six of us out,” Aeck said.
This includes Chubby’s Diner, which closed its doors on May 1 after the restaurant owners and the Pratt Company could not come to an agreement on the direction of the location. The owner of the plaza says it was the restaurant’s decision not to participate in their new direction. Chubby’s management says they wanted to maintain affordability levels for their clientele.
Target is not connected to the Pratt family, who say shopkeepers will reap the rewards of an influx of shoppers when the store opens.
Aeck says he made an offer on the former Payless Shoe Store location—20% above what he pays now per square foot—but this was rejected.
He says he thinks the Pratts are seeking corporate owners for the empty spaces.
“I’m hoping we get the place across the street,” he said, referring to the Coffee Cat location he said is moving on after the introduction of the third fourth Starbucks location within a mile radius.
