By Samantha Maciag

Regina malls are thrilled with Target stores coming to Saskatchewan

Jan 14, 2011 | 5:58 AM

Two of Regina's biggest malls are thrilled for the opportunities that could follow after most of the Zellers stores in Canada were purchased by Target.

“We feel it would be a perfect location for a Target,” said Richard Michaeloff, CEO of Retro Com, which owns the Southland Mall.

While he has no official word on if Target will take the place of the planned Zellers slated to go in there right now, he's optimistic about its impact.

“Target's got a great reputation out there among shoppers, so I think for sure it should increase traffic at the centre,” said Michaeloff.

At the Northgate Mall, Linely Shaefer is also thrilled about the possibilities.

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Shaefer is the commercial realtor with IRC Commercial Real Estate, which is responsible for the shopping centre.

“It's a department store that has probably better buying power than, say, Zellers, and could bring in different product lines,” said Shaefer. “I think it's only a positive.”

Shaefer says Regina has seen acquisitions like that before.

“I think that we've seen Walmart grow the way that it has and I think that Target is going to be following the same growth pattern,” he said.

News Talk Radio reached out to the Victoria Square Mall — where the other Zellers in Regina is located — for comment, but their spokesperson was
unavailable.

Target made the big announcement Thursday morning and the deal is worth more than $1.8 billion dollars.

A spokesperson for Target says the company hasn't determined which locations will be switched over yet, saying they will do market research first.

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